Assurant has finalised its $1.4 billion 2016 property catastrophe reinsurance programme.
The programme is designed to reduce financial exposure and safeguard Assurant’s ability to protect more than 2.4 million homeowner and renter policyholders against severe weather events and other perils.
Base reinsurance premiums for the global catastrophe programme are estimated to be $140 million in 2016, compared to $162 million in 2015.
Christopher Pagano, chief financial officer and treasurer of Assurant, commented: “This programme is a critical component of our risk management strategy, designed to protect Assurant’s financial position. This allows us to be there for our policyholders when they need us the most.”
