High retentions shield reinsurers from Harvey

The bulk of US nationwide insurers are not expected to attach
their catastrophe treaty reinsurance covers as a result of
Hurricane Harvey, although the market is monitoring some companies
more closely for possible cessions.
The flood-driven nature of the loss will lessen the burden for
cat treaty reinsurers, although the $1bn cover for the National
Flood Insurance Program (NFIP) is expected to be Harvey's first
treaty market casualty.
The $1bn limit was spread out across a $4bn stretch of claims