Fema makes first reinsurance deal

The US Federal Emergency Management Agency (Fema) has agreed to
buy a small amount of reinsurance as it prepares to set up a larger
risk transfer programme in 2017.
The disaster agency has placed $1mn of six-month reinsurance
limit with Transatlantic Re, Swiss Re America and Munich Re
America, it announced.
Guy Carpenter provided broking services.
This initial risk transfer runs from 19 September until 19 March
2017 and provides cover that triggers when Fema's losses from
an event surpass...