Insurance solutions provider Orion180 has completed its excess-of-loss (XOL) and net quota share reinsurance agreements for the 2025 hurricane season totalling $845 million, which represents a 31% increase from the 2024 programme.
The renewed reinsurance programme is backed by a robust panel of 35 leading global reinsurers, and covers both Orion180 Insurance and Orion180 Select Insurance companies.
With the National Oceanic and Atmospheric Administration (NOAA) forecasting an above-normal hurricane season (predicting 13 to 19 total named storms), Orion180 has proactively secured the reinsurance placements to support its ongoing growth and bolster its expanding personal lines portfolio across the US.
This portfolio includes Orion180’s FLEX Home Insurance – now available in Texas and Florida -, and Residential Private Flood Insurance – available in Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Mississippi, North Carolina, Ohio, South Carolina, and Tennessee with plans to expand to other States in 2025.
Ken Gregg, President and CEO, commented: “By providing additional insurance capacity, our reinsurance partners empower us to deliver much-needed tailored coverage to homeowners in catastrophe-prone markets.
“Independent agents and customers can rest easy, knowing that Orion180 can fulfil its promise of offering protection in higher risk areas of the United States when few others will.”
The post Orion180 lifts reinsurance coverage 31% for 2025 hurricane season to $845m appeared first on ReinsuranceNe.ws.