Several Floridian insurers are looking to lower their reliance on the state-backed reinsurance fund in 2018, bringing a small amount of new demand into the market.
UPC has already placed 100 percent of its programme for the year, months ahead of the 1 June renewal deadline, CEO John Forney said at sister publication The Insurance Insider's Insider US conference in New York.
The riskiest tranche of Tokio Marine's Kizuna Re II 2018-1 earthquake cat bond has settled at the lowest end of the initial guidance, while the deal's overall size has remained unchanged at $200mn.
