FloodSmart Re Ltd. Series 2020-1

A tranche of FloodSmart Re catastrophe bond notes that provide reinsurance to the US Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP) have now been deemed safe from potential loss due to hurricane Ian, with the notes redeemed and capital to be returned to investors, Artemis has learned.

There has been an additional $10 million redemption of outstanding principal from the extended Class B tranche of notes issued under the US Federal Emergency Management Agency’s (FEMA) FloodSmart Re Ltd. (Series 2020-1) catastrophe bond issuance, Artemis has learned.

One tranche of the FloodSmart Re catastrophe bond program has had its maturity extended to allow for further development of the NFIP’s flood insurance losses from hurricane Ian, Artemis has learned.

The U.S. Federal Emergency Management Agency (FEMA) successfully secured its latest and third catastrophe bond issuance, FloodSmart Re Ltd. (Series 2020-1), at the upsized target of $400 million, adding to its “lynchpin” flood reinsurance program.

The U.S. Federal Emergency Management Agency (FEMA) has now secured its upsized target of $400 million of catastrophe bond backed flood reinsurance coverage for the NFIP from its third capital markets issuance, the FloodSmart Re Ltd. (Series 2020-1) transaction.

The U.S. Federal Emergency Management Agency (FEMA) has lifted its target for its third catastrophe bond, with the FloodSmart Re Ltd. (Series 2020-1) transaction now seeking up to $400 million of flood reinsurance protection from the capital market for its National Flood Insurance Program (NFIP).

The U.S. Federal Emergency Management Agency (FEMA) is back in the catastrophe bond market with a $300 million FloodSmart Re Ltd. (Series 2020-1), which will be its third transaction seeking flood reinsurance coverage from the capital market for its National Flood Insurance Program (NFIP).