The Texas Windstorm Insurance Association (Twia) has obtained a $350mn reinsurance deal to provide coverage for 2017 in the event that losses this year erode its surplus
The Insurance Council of Australia (ICA) said that insured losses from storms in eastern Australia have reached A$56mn ($41.6mn), up from an A$38mn ($28mn) estimate released yesterday (6 June)
After three years of low activity the US is set to experience near-normal storm activity in the upcoming Atlantic hurricane season, the National Oceanic and Atmospheric Administration (NOAA) said last week (27 May).
Allianz Risk Transfer has launched its first insurance-linked securities (ILS) issuance with the Blue Halo Re cat bond, which seeks reinsurance cover of $150mn, Trading Risk understands.
