The North Carolina Farm Bureau has now secured and priced its debut Blue Ridge Re Ltd. (Series 2023-1) catastrophe bond issuance at the upsized target size of $400 million, while the notes have been priced within the initial guidance range.
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The North Carolina Farm Bureau has now upsized its target for named storm reinsurance protection from the capital markets via its debut Blue Ridge Re Ltd. (Series 2023-1) cat bond issuance, with the deal now being offered at a suggested $400 million, evenly split across the two tranches on offer.
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Another new sponsor has entered the catastrophe bond market this year, with the North Carolina Farm Bureau seeking $250 million of named storm reinsurance protection from the capital markets via its debut Blue Ridge Re Ltd. (Series 2023-1) cat bond issuance.
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