Twia confirms $100mn reinsurance cutback

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 benefiting from a loss-free year...