Twia completes 2023 reinsurance program with $1.2bn cat bonds
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Twia completes 2023 reinsurance program with $1.2bn cat bonds


The Texas Windstorm Insurance Association (Twia) has completed its 2023 reinsurance program to provide cover up to its $4.5bn one-in-100-year potential loss, through a combination of $1.2bn of catastrophe bonds and $1bn of traditional reinsurance.

The bond coverage already in force for the year included Alamo Re’s 2022 notes of $200mn, 2021 notes of $500mn – both of which had been reset – and 2023 notes of $500mn, which replaced the Alamo 2020 bonds...

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