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TWIA may need ~$5.8bn in reinsurance for 2025 as PML rises 20%

Summary by ReinsuranceNe.ws
The Texas Windstorm Insurance Association (TWIA) has projected that it might need almost $5.8 billion in reinsurance limit for 2025 as 20% exposure growth lifts its projected 1-in-100 year probable maximum loss (PML) to $7.8 billion, while total losses from hurricane Beryl are expected to almost deplete the Catastrophe Reserve Trust Fund (CRTF). Back in May, exposure growth at TWIA led staff to recommend lawmakers to explore ways of reducing its…
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