FloodSmart Re Ltd. Series 2022-1

The U.S. Federal Emergency Management Agency (FEMA) has hailed the successful completion of the issuance of its new $450 million  FloodSmart Re Ltd. (Series 2022-1)  catastrophe bond, which has expanded the capital markets participation in the National Flood Insurance Program’s (NFIP) reinsurance tower.

The U.S. Federal Emergency Management Agency (FEMA) has now secured the $450 million upper-target for its new FloodSmart Re Ltd. (Series 2022-1)  catastrophe bond, with the deal set to more than replace a maturing cat bond and lift the capital markets share of the National Flood Insurance Program’s (NFIP) reinsurance tower.

The U.S. Federal Emergency Management Agency (FEMA) has now lifted its upper-target for its new FloodSmart Re Ltd. (Series 2022-1)  catastrophe bond to seek as much as $450 million of reinsurance protection for its National Flood Insurance Program (NFIP).

The U.S. Federal Emergency Management Agency (FEMA) is back in the catastrophe bond market again, seeking to secure at least $325 million of additional reinsurance protection for its National Flood Insurance Program (NFIP) through a FloodSmart Re Ltd. (Series 2022-1)  issuance, which will be FEMA’s fifth cat bond.