The TWIA Board of Directors held an interim meeting on April 18 to review options for reinsurance beyond its statutory funding requirement and will not pursue additional reinsurance beyond the $2.24 billion that it decided to secure at its January meeting.

The Board received a presentation from Gallagher Re, the Association’s reinsurance broker, on reinsurance pricing and purchase options. The update included requested pricing on an additional approximately $700 million in reinsurance above the Association’s required 1:100 probable maximum loss (PML) of $4.5 billion.

The Board will obtain approximately $2.24 billion in reinsurance coverage to bring TWIA’s total funding for the 2023 storm season to $4.5 billion.

The meeting materials and archived recording for the Board meeting are available on our Archived Meetings page.

As a reminder, this message and all TWIA Legislative Updates for this session will be archived at www.TWIA.org/legislative.

Should you have any questions, please contact me at DDurden@twia.org or (512) 505-2255.

Sincerely,

David Durden
General Manager
Texas Windstorm Insurance Association