Twia confirms $100mn reinsurance cut back

The Texas Windstorm Insurance Association (Twia) confirmed today (2
June) that it had reduced the size of its traditional reinsurance
programme by $100mn.
The association said it had secured $1.1bn in traditional
reinsurance to be purchased this year, in addition to its in-force
cat bond protection of the same amount.
In 2015, TWIA had $2.3bn of reinsurance in excess of a $2.6bn
retention, but this year it has lifted the attachment point to
$2.7bn, after benefitting from a loss-free year...