Everglades Re II Ltd

Florida’s Citizens Property Insurance Corporation has now secured its one-third upsized target for reinsurance protection from its new Everglades Re II Ltd. (Series 2026-1) catastrophe bond sponsorship, while pricing the notes and the coverage at below-guidance pricing, sources have told Artemis.

Florida’s Citizens Property Insurance Corporation has raised its target for reinsurance protection from its new Everglades Re II Ltd. (Series 2026-1) catastrophe bond sponsorship, with now up to $600 million of named storm limit being sought, Artemis can report.

Florida’s Citizens Property Insurance Corporation is back in the market looking to sponsor another catastrophe bond, with an initial target to secure $450 million or more in reinsurance protection from a new Everglades Re II Ltd. (Series 2026-1), Artemis has learned.

Florida’s Citizens Property Insurance Corporation is planning to call its $1.1 billion of Everglades Re II Ltd. (Series 2024-1) catastrophe bonds in advance of its renewal, to enable it to take advantage of current market conditions and may sponsor issuance of around $600 million of new cat bonds this year to make a saving on […]

Florida’s property insurer of last resort Citizens Property Insurance Corporation began 2026 with 67% less exposure, while the firm also projects it will need $3 billion of traditional reinsurance and / or catastrophe bonds for the 2026 hurricane season.

Florida’s property insurer of last resort Citizens Property Insurance Corporation is anticipating lower reinsurance costs in 2026, as its policy count and exposure-base has continued to decrease meaning less limit is likely to be needed, while there is an expectation of improved market conditions due to softening that may persist.

Across the entire roughly $4.49 billion reinsurance risk transfer tower of Florida’s Citizens Property Insurance Corporation the capital markets have taken their largest share proportionally in 2025, with around 87% of the total backed by catastrophe bonds, collateralized reinsurance markets and ILS fund managers.

Florida’s Citizens Property Insurance Corporation has confirmed that it has successfully completed its reinsurance renewal for the 2025 hurricane season, securing the targeted traditional and catastrophe bond coverage for less than the budget that had been set.

Florida’s Citizens Property Insurance Corporation has leaned more heavily on the catastrophe bond market for its 2025 risk transfer strategy, with CFO Jennifer Montero revealing that 70% of the insurer’s total risk transfer program, including both new and continuing coverage, is now backed by cat bonds.

Florida’s Citizens Property Insurance Corporation has now successfully priced what is the biggest catastrophe bond issuance ever seen, securing a 56% upsized $1.525 billion of reinsurance from its new Everglades Re II Ltd. (Series 2025-1) issuance, Artemis has learned.