Close this search box.

At $2.1bn, cat bonds will be TWIA’s biggest source of funding for 2024

For 2024, the funding tower of residual market insurer the Texas Windstorm Insurance Association (TWIA) will see catastrophe bonds as its largest component, providing 32% of the funding limit needed to meet the statutory 1-in-100 year probable maximum loss for the coming hurricane season.

Recall that, back in February the Board of the Texas Windstorm Insurance Association (TWIA) approved a 1-in-100 year PML for 2024 funding purposes at a new high of $6.5 billion, meaning the insurer of last resort needs just over $4 billion in reinsurance limit for the 2024 wind season.

Already TWIA has been making rapid progress in securing that, helped enormously by the catastrophe bond market.


Skip to content