Florida Citizens could secure the largest cat bond ever, which will lift its reliance on cat bonds for reinsurance
Cat bonds could be 70% of Citizens reinsurance | | | Catastrophe bonds could make-up 70% of Florida Citizens reinsurance in 2025  With Florida's Citizens Property Insurance Corporation now aiming to upsize its new catastrophe bond issuance to between $1.4 billion and a record $1.525 billion in size, while its overall target for reinsurance has fallen slightly to $4.49 billion, once in-force cat bonds are added to the new issuance, the cat bond market could make up roughly 70% of its risk transfer in 2025. Citizens budget for risk transfer has been reduced and its Board remain acutely focused on cost. CFO Jennifer Montero said that rate reductions of 10% or more are anticipated in layers above the Florida Hurricane Cat Fund at the renewals. This is precisely where the catastrophe bond market's risk capital is most efficient. Read the full story. Other articles: | | | | | | Please share this with colleagues and friends if you think they would like to receive it.
If you've been forwarded this but want to subscribe, visit Artemis.
| | | | | | You may be receiving this because you recently attended an industry event we partnered with, giving us permission to email you. If you don't want to receive our weekly ILS, catastrophe bond and reinsurance capital newsletter please Unsubscribe or Edit your subscription here .
© Steve Evans Ltd. - Artemis.bm
| | | |
No comments:
Post a Comment