Traditional reinsurers raise share on Citizens placement

Florida's state-backed insurer Citizens has put out firm
order terms for its 2017 cat programme that include a further
reduction in the overall limit it is placing but an increase in
traditional reinsurer participation, The Insurance
Insider can reveal.
The final structure trims back the commercial non-residential
cover from 50 percent of a $301mn layer proposed in the carrier's original
submission to 50 percent of a $200mn layer, at a rate-on-line
(RoL) of 5 percent.That means total limit to...