Citizens looks to place $1.3bn of reinsurance limit for 2017

Florida Citizens Property Insurance is aiming to raise $1.34bn of reinsurance cover for the 2017/18 year, down from $2.46bn last year, as it renegotiates cover to fit its smaller portfolio, sister publication The Insurance Insider reported.

But as much of the 2016 cover was made up of multi-year contracts, this renewal still marks the first time in two years that Citizens has offered significant volumes of cover to the traditional subscription reinsurance market.

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