FEMA expands its reinsurance program


The US Federal Emergency Management Agency (FEMA) has entered into its third, three-year reinsurance agreement with Hannover Re (Ireland) Designated Activity Company. The company, acting on FEMA’s behalf, transferred $400 million of the program’s financial flood risk to qualified investors of capital markets. The company did this by issuing a catastrophe bond.

FEMA, Insurance, Reinsurance, Catastrophe, David Maurstad, North America

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