Universal expands cat tower while adding cover

Universal Insurance has expanded its catastrophe reinsurance
limit to $2.65bn for a single event in Florida while keeping its
retention stable at $35mn, the Fort Lauderdale-based carrier said
yesterday.
The reinsurance arrangements for Universal's two operating
units, Universal Property & Casualty and American Platinum
Property & Casualty, kicked in yesterday with participants that
include Nephila Capital (via Allianz Risk Transfer), Everest Re,
RenaissanceRe, Chubb Tempest Re and Lloyd'