UPC finalises $2.8bn reinsurance treaty

UPC Insurance has put in place in its biggest ever reinsurance
programme ahead of the 2017 hurricane season, with $2.8bn of limit,
including $1.9bn of private cover.
The Floridian cedant disclosed that 70 percent of the private
market capacity had been provided by collateralised reinsurers,
with Nephila and Elementum understood to be among the biggest
participants.
UPC will retain $55mn of losses from the first event in any
season, dropping to a $30mn retention for a second or subsequent
event..