Citizens chose to place only ~53%, or $2.5bn, of its reinsurance program after seeking roughly $4.7bn of limit as it refused to revise the pricing on its treaty upwards in the face of a tight market for capacity.
The $2.5bn of limit the Florida insurer of last resort has for 2022/23 includes $1.45bn of new placement and $1.06bn
Enter your e-mail to claim a free trial:
Uncover exclusive insights tailored for insurance leaders
Stay Informed: Access exclusive industry insights
Gain a competitive advantage: Hear first about tactical developments
Make better decisions: Understand market dynamics in crucial lines of business