TWIA board votes for Gallagher Re to seek $2.92bn in reinsurance
The board of the Texas Windstorm Insurance Association (TWIA) has voted to instruct Gallagher Re to seek pricing for a reinsurance program to top out at $5.2bn, with a $2.28bn retention, although the 1:100 probable maximum loss (PML) has been set at $4.5bn.