The Board of the Texas Windstorm Insurance Association (TWIA) met to discuss setting of the 1-in-100 year probable maximum loss (PML)
TWIA needs $4.227bn of reinsurance & cat bonds | | | TWIA sets PML at $6.227bn for 2025, to require $4.227bn of reinsurance & cat bonds  The Board of the Texas Windstorm Insurance Association (TWIA) met yesterday and one item up for discussion was the setting of the 1-in-100 year probable maximum loss (PML), a critical figure for defining its funding needs for the hurricane season and therefore its purchases of reinsurance and catastrophe bonds for 2025 TWIA will call on its staff to buy reinsurance, excess of its existing $2 billion of funding from other sources, up to the 1-in-100 year PML, meaning $4.227 billion in reinsurance and catastrophe bonds will be required for 2025. With $2.1 billion of multi-year catastrophe bonds still in-force but $200 million of that maturing in early June, it means TWIA will have $1.9 billion of cat bond coverage available, as well as some multi-year reinsurance protection still in-force, meaning an additional $1.727 billion of new reinsurance and/or cat bonds will need placing this year. Read the full story. | | | | | | Please share this with colleagues and friends if you think they would like to receive it.
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