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Citizens to add $750m of traditional reinsurance, doubling budgeted risk transfer

Citizens Property Insurance, the state backed property insurer of last resort in Florida, who recently completed the largest catastrophe bond ever with the $750m Everglades Re Ltd., is planning to double the total amount of private market risk transfer purchased this year to $1.5 billion. Earlier this year we reported read the full article →

Everglades Re Ltd. catastrophe bond lists on Bermuda Stock Exchange

The $750m of catastrophe bond notes issued by Everglades Re Ltd. on behalf of sponsor Florida’s Citizens Property Insurance, which recently became the largest catastrophe bond deal ever, have been approved for listing on the Bermuda Stock Exchange (BSX). The Everglades Re Ltd. principal-at-risk variable rate notes program has also read the full article →

32 investors participate in Citizens Everglades Re cat bond

The record-breaking Everglades Re Ltd. catastrophe bond which closed recently securing sponsor Florida’s Citizens Property Insurance a massive $750m of fully collateralized, two year hurricane reinsurance cover, has been the subject of considerable discussion in the press since we first revealed it had upsized. Information has now emerged on the read the full article →

Everglades Re Ltd. completes, rated and now largest ever catastrophe bond

The Everglades Re Ltd. catastrophe bond has now completed and has been settled successfully at a size of $750m making it officially the biggest catastrophe bond to ever hit the market. Everglades Re is special not only because it achieved this size, it is the first cat bond to be read the full article →

Everglades Re Ltd. upsizes to $750m, becomes largest catastrophe bond ever

Clearly catastrophe bond and insurance-linked securities people don't rest at the weekends. Over the last couple of days we've had a number of excited emails and phone calls from participants in the market telling us that the Everglades Re Ltd. cat bond has more than tripled in size during marketing read the full article →

More details on the Everglades Re Ltd. catastrophe bond from Florida Citizens

Yesterday we broke the news that Florida’s Citizens Property Insurance, the state backed provider of property insurance, was bringing its first catastrophe bond to market through a newly established Bermuda special purpose insurer named Everglades Re Ltd. This transaction has been expected since January when it emerged that Florida Citizens read the full article →

Florida Citizens bringing Everglades Re Ltd. catastrophe bond to market

We've heard some very interesting news this morning from a contact; Florida's Citizens Property Insurance, the state backed property insurer of last resort, is said to be bringing its first catastrophe bond to market through an entity called Everglades Re Ltd. We've been waiting for a Florida Citizens cat bond read the full article →

Citizens to turn to catastrophe bonds as part of risk reduction plan

Citizens Property Insurance, the state backed property insurer of last resort in Florida, is planning to increase its use of the private reinsurance markets in 2012 by increasing the amount of reinsurance cover it purchases and also issuing what we believe would be their first catastrophe bond. Citizens has long been read the full article →

Citizens to return to private market for Florida hurricane reinsurance

Citizens Property Insurance, the state backed property insurer of last resort in Florida, has said that it plans to take out some reinsurance from the private market this year. The last time Citizens accessed the private reinsurance market was two years ago as they have tended to rely on a read the full article →