Everglades Re Ltd Series 2013-1

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Everglades Re 2013-1 notes upgraded, as no more resets to come

The $250m Everglades Re Ltd. (Series 2013-1) catastrophe bond, sponsored by Florida's Citizens Property Insurance Corporation in March 2014, has had its rating upgraded as it has now passed its final reset and there are no more chances to adjust the risk-level.The Everglades Re 2013-1 cat bond was an early read the full article →

Citizens opts for variable reset to Everglades Re 2013-1 cat bond

Florida's Citizens Property Insurance Corporation is one of the first catastrophe bond sponsors to opt to use a variable reset facility with its Everglades Re Ltd. (Series 2013-1) catastrophe bond, by choosing to lower the attachment point.The $250m Everglades Re 2013-1 cat bond, which Citizens sponsored back in March 2013, read the full article →

Citizens hails 40% cost-saving made with Everglades Re 2013 cat bond

The latest catastrophe bond from Florida’s Citizens Property Insurance completed at the end of last week, bringing the amount of risk transfer Citizens benefits from in the cat bond market to $1 billion between its two transactions completed to date. After being clearly pleased with the drop in pricing the Everglades read the full article →

Citizens approves Everglades Re 2013 cat bond, ecstatic with pricing

The Board of Florida’s Citizens Property Insurance, the state backed property insurer of last resort, has just approved its reinsurance and risk transfer plans for 2013 including the second catastrophe bond from the insurer, Everglades Re Ltd. (Series 2013-1). The Board made it clear just how much they appreciate the read the full article →

Further details on Citizens new Everglades Re 2013 catastrophe bond

On Wednesday we covered the new catastrophe bond transaction which has come to market on behalf of Florida’s Citizens Property Insurance, the state backed property insurer of last resort. Citizens second cat bond issuance, after its successful and record-sized 2012 issuance, Everglades Re Ltd. (Series 2013-1) sees the insurer seeking read the full article →

Florida Citizens return to cat bond market with Everglades Re 2013

As expected Florida’s Citizens Property Insurance, the state backed property insurer of last resort, is bringing its second catastrophe bond issuance to market with a new Series 2013-1 tranche from its Everglades Re Ltd. special purpose insurer. Florida Citizens had been planning to increase its spend on private market risk read the full article →