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FEMA’s new flood cat bond to settle at upsized $575m, prices down

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 $557 million of reinsurance protection, while pricing has been fixed at the bottom read the full article →

FEMA’s new FloodSmart Re cat bond could be its largest, at up to $575m

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. FEMA returned to the catastrophe bond market in late read the full article →

FEMA sponsors fourth FloodSmart cat bond, targets $350m+ of reinsurance

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). As with FEMA's previous read the full article →

FEMA explains structure of $1.153bn 2021 flood reinsurance renewal

The U.S. Federal Emergency Management Agency (FEMA) has explained the structure of its $1.153 billion National Flood Insurance Program’s (NFIP) traditional reinsurance renewal for 2021. As we were first to report yesterday, FEMA renewed the NFIP's traditional reinsurance program at the January 2021 renewals, opting for a downsized $1.153 billion of read the full article →

FEMA renews $1.153bn of traditional NFIP flood reinsurance for 2021

The U.S. Federal Emergency Management Agency (FEMA) has renewed the National Flood Insurance Program’s (NFIP) traditional reinsurance program at the January renewals, opting for a downsized $1.153 billion of coverage, but from an expanded panel of reinsurers. As we revealed back in September, FEMA was back in the reinsurance market and read the full article →

FEMA begins 2021 flood reinsurance renewal process, may upsize program

The U.S. Federal Emergency Management Agency (FEMA) is back in the reinsurance market and seeking expressions of interest to participate in a January 2021 renewal of the National Flood Insurance Program’s (NFIP) traditional reinsurance program. Our sources suggest that for 2021 FEMA may look to increase the size of the traditional read the full article →

FloodSmart cat bond helps FEMA grow reinsurance lynchpin to $2.53bn

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. With the addition of the latest catastrophe bond FEMA's flood reinsurance coverage for the National Flood read the full article →

FEMA secures $400m of NFIP cat bond reinsurance at mixed pricing

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. FEMA's third catastrophe bond will now provide the Agency with an investor read the full article →

FEMA’s target for FloodSmart Re 2020 cat bond rises to $400m

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). FEMA returned to the capital markets read the full article →

FEMA returns for third NFIP flood cat bond, a $300m FloodSmart Re 2020

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). We understand from sources that the $300 read the full article →