Everglades Re II Ltd Series 2017-1

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42% of Florida Citizens renewal is collateralized markets & ILS funds

A whopping 42% of the limit placed for Florida's Citizens Property Insurance Corporation's reinsurance renewal was sourced from collateralized markets and insurance-linked securities (ILS) fund managers, as third-party capital continued to grow its share of the shrinking program.Florida Citizens purchased just slightly under $1.03 billion of reinsurance limit in its read the full article →

Citizens set for $300m Everglades Re II 2017 cat bond

According to sources, Florida’s Citizens Property Insurance Corporation’s latest catastrophe bond transaction, the Everglades Re II Ltd. (Series 2017-1) deal,  is set to upsize to $300 million in size before it completes.The transaction launched as a $250 million cat bond offering, on which the pricing has tumbled as our source read the full article →

Price guidance drops for Citizens new Everglades Re II 2017 cat bond

The coupon price guidance has been lowered on Florida’s Citizens Property Insurance Corporation's latest catastrophe bond transaction, the Everglades Re II Ltd. (Series 2017-1) deal, signalling continued strong appetite for new risk from investors despite the recent brisk issuance.Florida Citizens returned to the cat bond market earlier this month, launching read the full article →