First Coast Re Ltd

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Security First settles for $175m First Coast Re cat bond at low pricing

Florida’s Security First Insurance Company has settled for $175 million of collateralized reinsurance coverage from its First Coast Re Ltd. (Series 2017-1) catastrophe bond transaction, with final pricing terms achieved at the bottom of a reduced range.The First Coast Re 2017-1 transaction will provide Security First with reinsurance protection against read the full article →

Security First targets up to $200m for First Coast Re cat bond, price drops

Florida's Security First Insurance Company looks set to capitalise on attractive catastrophe bond market issuance conditions with its First Coast Re Ltd. (Series 2017-1), as the target size for the transaction increased while the price guidance has been lowered, we understand.At launch, Security First was targeting $150 million of fully-collateralized read the full article →

Security First Insurance returns with $150m First Coast Re 2017 cat bond

Security First Insurance Company is returning to the insurance-linked securities (ILS) market with its second transaction, seeking $150 million of fully-collateralized reinsurance protection from the capital markets through a First Coast Re Ltd. (Series 2017-1) issuance.For its second cat bond Security First Insurance is again accessing the capital markets with read the full article →

First Coast Re cat bond well received by investor base: Swiss Re

Swiss Re Capital Markets, the insurance-linked securities (ILS) division of reinsurance giant Swiss Re, has highlighted how well investors received the recently launched First Coast Re catastrophe bond.The $75 million First Coast Re Ltd. (Series 2016-1) cat bond issuance launched at the end of May, as the first transaction from read the full article →

First Coast Re cat bond cascading protection adds flexibility: GC Securities

The cascading nature of the per-occurrence fully collateralised reinsurance protection provided by the recently completed First Coast Re Ltd. (Series 2016-1) catastrophe bond provides its beneficiary Security First Insurance Company with flexible protection, according to GC Securities.GC Securities, the investment banking and capital markets focused unit of reinsurance broker Guy read the full article →

First Coast Re cat bond prices at bottom of reduced spread guidance

The first catastrophe bond issued for Security First Insurance Company, the First Coast Re Ltd. (Series 2016-1) cat bond deal, is now set to complete at the reduced amount of $75m and the pricing has fallen to the bottom end of the already reduced spread guidance range.Initially the cat bond read the full article →

First Coast Re cat bond target reduced to $75m for Security First

The first catastrophe bond to benefit Security First Insurance Company now looks set to complete at a pared back $75m, but price guidance for the First Coast Re Ltd. (Series 2016-1) cat bond issue has dropped to below the initial range.Sources said that the transaction, which had been targeting up read the full article →

First Coast Re 2016 cat bond launched for Security First Insurance

A new catastrophe bond has been launched for first time cat bond ceding firm Security First Insurance Company, as it seeks a capital market backed source of collateralised reinsurance cover through a $100m First Coast Re Ltd. (Series 2016-1) cat bond issue.It's the first transaction to come to market featuring read the full article →