Everglades Re II Ltd Series 2015-1

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Everglades Re II termination notice filed

An optional termination notice was issued by the Everglades Re II Ltd. (Series 2015-1) catastrophe bond vehicle to its investors this week, confirming that Florida’s Citizens Property Insurance Corporation is redeeming the bond early.Artemis has seen documentation explaining that Florida Citizens has used the approval it received from its Board read the full article →

Early call for Everglades Re II cat bond approved by Citizens board

The Board of Florida’s Citizens Property Insurance Corporation has approved the proposal to allow it to call (or redeem) its $300 million Everglades Re II Ltd. (Series 2015-1) catastrophe bond transaction early, so it can return to the market with a clear view of its risk transfer opportunities.A meeting to read the full article →

Citizens seeks early call for Everglades Re II 2015 cat bond

Florida's Citizens Property Insurance Corporation wants to call (or redeem) its $300 million Everglades Re II Ltd. (Series 2015-1) catastrophe bond transaction early in order to take advantage of market conditions with any new issue in 2017.Florida Citizens is set to come back to the catastrophe bond market in 2017 read the full article →

Citizens resets Everglades Re II at lower attachment point

Florida’s Citizens Property Insurance Corporation has reset its most catastrophe bond, the $300m Everglades Re II Ltd. (Series 2015-1) transaction, at a lower attachment point, reacting to the effects of depopulation of its portfolio and looking ahead to its reinsurance and risk transfer needs.One of the benefits of the variable read the full article →

Everglades Re II grows to $300m, prices near top of extended guidance

Florida’s Citizens latest Everglades Re II Ltd. (Series 2015-1) catastrophe bond has now been priced. The cat bond has now upsized by 20% to $300m, while the final pricing almost reached the top of the expanded guidance, as Citizens finalised a $3.9B risk transfer programme for 2015.When the Everglades Re read the full article →

Everglades Re II cat bond price range expanded on investor feedback

According to sources the price guidance for Florida’s Citizens latest Everglades Re II Ltd. (Series 2015-1) catastrophe bond has been expanded, providing a wider range of possible coupon yield after investors pushed back on the tight launch pricing range.When the $250m Everglades Re II cat bond was launched last week read the full article →

Everglades Re II 2015 cat bond launched at $250m for Florida Citizens

Florida’s Citizens Property Insurance Corporation is back with the expected Everglades Re II Ltd. (Series 2015-1) catastrophe bond in advance of the U.S. hurricane season, as the insurer seeks to once again increase its use of capital markets for risk transfer.Florida Citizens made it clear in 2015 that another catastrophe bond read the full article →