Orion180’s 2024 hurricane season reinsurance tower grows 47%

Orion180 has completed its reinsurance placement for excess-of-loss (XOL) and net quota share agreements for the 2024 hurricane season, marking a 47% increase in the firm’s tower from 2023.

technologyAccording to Orion180, with this strategic placement, it will continue to deliver a wide range of personalised homeowners insurance products and anticipates significant growth in its personal lines premium across the United States.

This renewed reinsurance program is reportedly backed by a robust panel of over 42 leading reinsurers, who all hold a financial rating of A- or higher by AM Best or are 100% collateralised.

As per Ken Gregg, founder and CEO of Orion180, this latest reinsurance arrangement will enable Orion180 to continue its mission of serving the United States with premier insurance solutions and an outstanding customer experience.

Gregg continued, “We appreciate the support of our reinsurance partners, which enables us to provide much-needed insurance capacity in areas experiencing significant disruption in the property insurance market.

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“Our independent agency partners and customers can feel secure knowing that, in the event of a severe storm, Orion180 is equipped to fulfil our promise of protection. We are committed to remaining in catastrophe-exposed markets and bringing solutions to those in need.”

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