Citrus Re Ltd. Series 2015-1

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Cat bond trading still light, Citrus Re 2017 recovers, other Citrus’ dip

Secondary trading activity in catastrophe bonds has remained light following the landfall of hurricane Irma, even though some broker desks accepted enquiries over the weekend. Not many positions have changed hands, but notable is the price recovery of the Citrus Re 2017 cat bond and the fact a Citrus Re read the full article →

Heritage splits reinsurance three ways, cat bonds, traditional & FHCF

Heritage Property & Casualty Insurance has completed a $1.76 billion property catastrophe reinsurance program for 2015-16, succeeding in reducing its reliance on the Florida Hurricane Catastrophe Fund (FHCF).The reinsurance program is well diversified across traditional reinsurance capital, insurance-linked securities (ILS) and catastrophe bond investors, and the FHCF as well.Given the read the full article →

Cat bonds cheaper, more valuable, relative to FHCF reinsurance: Heritage

For Heritage Property & Casualty Insurance the attractive pricing and more flexible terms of its $277.5m Citrus Re Ltd. (Series 2015-1) catastrophe bond, provides cheaper and more valuable reinsurance protection than the Florida Hurricane Catastrophe Fund (FHCF) it replaced.Heritage, the rapidly growing Florida-based primary insurance company, elected to use its read the full article →

Heritage cites FHCF savings thanks to Citrus Re 2015 cat bond

Heritage Property & Casualty Insurance Co. is pleased with the pricing of its $277.5m three tranche Citrus Re Ltd. (Series 2015-1) catastrophe bond, which has enabled the insurer to save money by reducing its reliance on the Florida Hurricane Catastrophe Fund (FHCF).Parent company Heritage Insurance Holdings Chairman and CEO Bruce read the full article →

Heritage P&C’s Citrus Re 2015-1 cat bond to complete at $277.5m

Florida takeout insurer Heritage Property and Casualty Insurance Co's Citrus Re Ltd. (Series 2015-1) catastrophe bond will complete at $277.5m in size, while pricing looks mixed as it settled towards the upper end on the largest tranche.As we wrote earlier this week, Heritage had targeted growing this catastrophe bond issuance read the full article →

Heritage’s Citrus Re 2015-1 cat bond could hit $327.5m in size

Florida takeout insurer Heritage Property and Casualty Insurance Co. could see its Citrus Re Ltd. (Series 2015-1) catastrophe bond hit as much as $327.5m in size thanks to demand from investors, while pricing has moved to the mid and lower ends of guidance.Heritage's third catastrophe bond, it sponsored two takedowns read the full article →

$150m Citrus Re 2015 cat bond launched by Florida’s Heritage P&C

Florida takeout insurance company Heritage Property and Casualty Insurance Co. is returning to the capital markets as it seeks out low-cost reinsurance capital with its third catastrophe bond issue, a currently $150m Citrus Re Ltd. (Series 2015-1) transaction.Heritage sponsored two takedowns under the Citrus Re special purpose insurer in 2014, a read the full article →