Twia may reduce 2016 reinsurance placement

The Texas Windstorm Association (Twia) may look to reduce its
traditional reinsurance placement for 2016 after its reserve funds
grew over the past year.
A Twia committee proposed last week that the organisation
maintain its reinsurance cover at $2.2bn for 2016, including $1.1bn
of multi-year cat bond cover bought in previous years.
This implies that it will seek $1.1bn of reinsurance limit for
2016-17, down from $1.2bn of one-year aggregate limit placed in
2015.This year, Twia expects to lift..