SURE working on $500mn placement as 1.4 cat renewals run late
SureChoice Underwriters Reciprocal Exchange (SURE) is placing a $150mn US named storm cat bond inuring to traditional limit in a proposed $500mn cat program that is split between 1.4 and 1.7 against the backdrop of a late-running 1 April renewal season as many cedants face a capacity crunch for low-attaching layers, The Insurer understands.