FloodSmart Re Ltd. Series 2021-1

The U.S. Federal Emergency Management Agency (FEMA) is planning to sponsor another FloodSmart Re catastrophe bond to provide flood reinsurance to the National Flood Insurance Program (NFIP) and is seeking proposals from potential reinsurance transformer partners.

The U.S. Federal Emergency Management Agency (FEMA) continued to spread its risk with its latest visit to the catastrophe bond market, as the $575 million FloodSmart Re Ltd. (Series 2021-1)  cat bond has lifted its reinsurance program for the National Flood Insurance Program (NFIP) to a new high.

The U.S. Federal Emergency Management Agency (FEMA) will be delighted with the outcome of its latest visit to the catastrophe bond market, as its FloodSmart Re Ltd. (Series 2021-1)  issuance will now secure the upsized target of $575 million of reinsurance protection, while pricing has been fixed at the bottom of an already reduced range.

The U.S. Federal Emergency Management Agency (FEMA) looks set to secure its largest FloodSmart Re catastrophe bond yet, as the target size for the FloodSmart Re Ltd. (Series 2021-1) transaction has been lifted to between $500 million and $575 million, we’re told.

The U.S. Federal Emergency Management Agency (FEMA) has returned to the insurance-linked securities (ILS) market for its fourth catastrophe bond issuance, a currently $350 million FloodSmart Re Ltd. (Series 2021-1) transaction, seeking additional flood reinsurance coverage from the capital market for its National Flood Insurance Program (NFIP).