Fema's new $4bn cat treaty prices

The US Federal Emergency Management Agency (Fema) is set to pay
more than $150mn of premium for its new catastrophe reinsurance
programme covering the National Flood Insurance Program (NFIP) for
2017, The Insurance Insider can
reveal.
It is understood that the programme, the biggest new US cat
treaty in years, is structured as two $2bn layers, although
underwriters have been told to expect that only around $1bn will be
placed at the 1 January inception.
Sources told this publication that...