The Board of the Texas Windstorm Insurance Association (TWIA) is being urged to enter the catastrophe bond market and plan for a renewal of expiring Alamo Re notes sooner than normal, as market conditions could make the placement more challenging.
TWIA’s reinsurance broker Gallagher Re has urged the Board of the residual market insurance entity to consider commencing its reinsurance renewal planning process immediately, at least in terms of the cat bond coverage likely to be sought.
Normally, TWIA brings catastrophe bonds to market through its Alamo Re program of deals just prior to the start of the US hurricane season.
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