Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

19 May 2012

Citizens’ $500mn reinsurance buy open to collateralised market

13 May 2011

Citizens Property Insurance Corporation will return to the private reinsurance market after a two-year hiatus and purchase up to $500mn of cover, sister publication The Insurance Insider has reported.

Citizens will buy between $300mn and $500mn in protection for its High Risk Account attaching at $6.3bn from a single hurricane for a maximum rate-on-line of 21.5 percent with no reinstatements.

This policy will allow capital markets providers a shot at participating on the account, since collateralised reinsurance providers typically can&#...


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