Citrus Re Ltd

Collateralized reinsurance markets and ILS funds have significantly increased their share of the insurer Heritage’s risk transfer program, with a number of new ILS managers featuring in the company’s latest reinsurance program disclosure.

The pricing guidance for insurer Heritage’s recently launched $125 million Citrus Re Ltd. (Series 2017-1) catastrophe bond has fallen again, now being fixed at the bottom end of the lowered coupon guidance range.

Coupon price guidance for the recently launched $125 million Citrus Re Ltd. (Series 2017-1) catastrophe bond has been lowered significantly, as investor demand for cat bond investments looks set to offer sponsors very attractive conditions.

Heritage Property & Casualty Insurance Company is returning to the capital markets for its fifth Citrus Re named catastrophe bond issuance as it seeks to expand its collateralised reinsurance protection, with a $125 million sized Citrus Re Ltd. (Series 2017-1).

Heritage Insurance Holdings Inc. said it expects its losses from hurricane Matthew will be less than $100m, with losses above a $40m retention falling within the insurers reinsurance tower but missing the $727.5m of Citrus Re catastrophe bonds.

Heritage Insurance Holdings, Inc., parent to Heritage Property & Casualty Insurance and Zephyr Insurance, has increased its reinsurance protection, from both traditional and capital market sources, by 70% to $3 billion in 2016, with $727.5m from its Citrus Re catastrophe bond program.

Heritage Property & Casualty Insurance has been approved for underwriting property and casualty insurance in the state of Georgia, which now becomes another potential state for its Citrus cat bond coverage to expand to.

Heritage Insurance Holdings, Inc., Florida headquartered parent to Heritage Property & Casualty Insurance, has reduced its reliance on using the Florida Hurricane Catastrophe Fund (FHCF) thanks to the successful completion of its latest catastrophe bond, Citrus Re Ltd. (Series 2016-1).

Florida headquartered Heritage is set to secure $250m of reinsurance protection for its Heritage Property & Casualty Insurance and Zephyr Insurance Company subsidiaries from its new Citrus Re Ltd. (Series 2016-1) catastrophe bond transaction.

Florida headquartered Heritage is back with a new catastrophe bond transaction, Citrus Re Ltd. (Series 2016-1), seeking $250m of reinsurance from the capital markets for its Heritage Property & Casualty Insurance and Zephyr Insurance Company subsidiaries.