The Texas Windstorm Insurance Association (TWIA) is now expected to double in size its new Alamo Re Ltd. (Series 2021-1) catastrophe bond transaction, which will now more than replace a soon to mature $400 million cat bond from 2018.
As we were first to report this week, TWIA’s staff said at a meeting on Wednesday that the new cat bond could be upsized, depending on the investor reception to the deal and resulting market pricing.
TWIA returned to the catastrophe bond market for this new Alamo Re 2021 catastrophe bond just over one week ago, at which time it was seeking just $250 million of reinsurance with the issuance.
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