Bayou Re Ltd

Louisiana Citizens Property Insurance Corporation is the latest catastrophe bond sponsor in 2023 to target an enlarged issuance size, with what was a $150 million target for its new Bayou Re Ltd. (Series 2023-1) deal, now lifted to target as much as $220 million in reinsurance from the cat bond.

Louisiana Citizens Property Insurance Corporation, the non-profit residential and commercial property insurer for those who cannot access private market insurance in the state, is back in the catastrophe bond market, seeking $150 million of named storm reinsurance through a Bayou Re Ltd. (Series 2023-1) deal.