Everglades Re Ltd

The $750m of catastrophe bond notes issued by Everglades Re Ltd. on behalf of sponsor Florida’s Citizens Property Insurance, which recently became the largest catastrophe bond deal ever, have been approved for listing on the Bermuda Stock Exchange (BSX). The Everglades Re Ltd. principal-at-risk variable rate notes program has also been listed and as a […]

The record-breaking Everglades Re Ltd. catastrophe bond which closed recently securing sponsor Florida’s Citizens Property Insurance a massive $750m of fully collateralized, two year hurricane reinsurance cover, has been the subject of considerable discussion in the press since we first revealed it had upsized. Information has now emerged on the amount of investors who have […]

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 […]

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 […]

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 […]

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 […]