Heritage saves on reduced $2.62bn reinsurance programme

Floridian carrier Heritage Insurance took advantage of cheaper
reinsurance rates to halve the retention on its $2.62bn reinsurance
programme for the 2017-2018 year.
The insurer said it obtained $2.62bn of cover at this year's
1 June renewal, a reduction of 13 percent from the $3bn of
reinsurance limit bought last year.
Heritage spent $223mn on the programme, down 7 percent from
$240mn last year, which it attributed to exposure management
coupled with improved pricing.
The company has been cuttin