The Federal Emergency Management Agency said its reinsurance renewal for the National Flood Insurance Program (NFIP) included the transfer of nearly $758 million to the private market through the use of 27 reinsurance companies – up from 18 companies a year ago.
Elizabeth Asche, FEMA’s assistant administrator for federal insurance and senior executive of NFIP said the agency’s use of more reinsurers strengthened its “commitment to use private sector reinsurance to enhance the NFIP’s ability to pay flood insurance claims.”
FEMA used Guy Carpenter to provide broker services during the renewal process.
The 2025 reinsurance