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 issued by sponsor Florida’s Citizens […]
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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 to become a massive $750m […]
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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 was considering the capital markets […]
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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 to appear since January when […]
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