Universal buys more all state and multi-year limit

Florida insurer Universal bought more all state cat cover and
placed a greater proportion of its programme on a multi-year basis.
The company added $100mn of new multi-year limit to its
reinsurance programme for 2016, after placing roughly $200mn of
multi-year cover last year for the first time.
The carrier also bought more top-layer cover and extended its
protection outside of Florida, to support its continued expandion
beyond the state.
Universal CEO Sean Downes said the company had achieved i