US primary insurance company Travelers has further increased the amount of protection it receives under its occurrence catastrophe excess-of-loss (XoL) reinsurance treaty to $3.675 billion at the January 1st renewals, but the retention rose to $4 billion as a lower layer was dropped., from 2022’s $2 billion, by 76% to provide $3.525 billion of cover for 2024.Last year’s arrangement had a $3.5 billion retention, with the lower layer featuring some reinsurance alongside co-participation.At the January 2025 renewal, the lower layer has not been renewed, meaning Travelers main catastrophe XoL retention for 2025 stands at $4 billion this year.

Instead, Travelers has now completely filled the upper-layer of its tower with private market reinsurance, eliminating a 50% co-participation in that layer between $7.5 billion and $8 billion of losses and driving the increase to $3.675 billion of protection.You can see Travelers’ new 2025 corporate catastrophe excess-of-loss reinsurance tower below, alongside the prior year treaty: Travelers 2025 corporate catastrophe tower covers the the accumulation of property losses arising from one or multiple occurrences, providing for a recovery of up to $3.675 billion across $4 billion of qualifying losses, in excess of a $4 billion retention and with each qualifying loss after a $100 million deductible.Travelers continues to have $575 million of reinsurance in-force from its most recent catastrophe bond, the issuance from May 2022 that matures at the start of June 2026.

The insurer also has , which last year included more northeast catastrophe reinsurance protection.As a reminder, in January 2023 and has not added any main aggregate cover back at this most recent January renewal, it seems., .

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