Universal adds $100mn to $3.4bn reinsurance placement
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Universal adds $100mn to $3.4bn reinsurance placement


Universal Insurance Holdings has renewed its reinsurance treaty with an extra $100mn limit, taking its coverage up to $3.4bn for any single Florida event after buying its first cat bond, Cosaint Re, earlier this year.

The renewal announcement comes after Trading Risk reported last week that although rate increases on Florida reinsurance this year will be in the single-digit percentages, there has been a dramatic hardening of pricing on lower layers.


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