FloodSmart Re Ltd

The U.S. Federal Emergency Management Agency (FEMA) has now finalised its latest catastrophe bond for the National Flood Insurance Program (NFIP), securing an upsized $275 million of flood reinsurance from the FloodSmart Re Ltd. (Series 2023-1) deal, while the notes were priced at the low-end of guidance.

The new FloodSmart Re Ltd. (Series 2023-1) catastrophe bond that is being issued for the U.S. Federal Emergency Management Agency (FEMA) entity the National Flood Insurance Program (NFIP), could upsize to $275 million in size, while the pricing has been reduced to the low-end of initial guidance.

The U.S. Federal Emergency Management Agency (FEMA) has returned to the catastrophe bond market and is aiming to secure at least $250 million of reinsurance protection for its National Flood Insurance Program (NFIP), through issuance of a FloodSmart Re Ltd. (Series 2023-1) cat bond.

According to new data published by the U.S. Federal Emergency Management Agency (FEMA), insured claims paid by the National Flood Insurance Program (NFIP) after major hurricane Ian have now risen to above $2.2 billion.

Likely in response to market conditions, as well as uncertainty over its 2022 reinsurance tower’s exposure to hurricane Ian, the National Flood Insurance Program’s (NFIP) traditional reinsurance tower has been renewed by FEMA at just $502.5 million in size for 2023, a more than 50% reduction on the prior year.

The U.S. Federal Emergency Management Agency (FEMA) has adjusted its estimate of flood insurance claims losses for the National Flood Insurance Program (NFIP) from hurricane Ian slightly, raising the lower-end of the range to $3.7 billion, but dropping the top-end slightly to $5.2 billion at the same time, putting it a little further from where […]

According to the latest data published by the U.S. Federal Emergency Management Agency (FEMA), insured claims paid by its National Flood Insurance Program (NFIP) from recent major hurricane Ian have only reached $793 million so far.

The secondary market for catastrophe bonds has again demonstrated that timing can be everything when it comes to trading in liquid markets, or conversely that some investors may get proven to have been prescient with their trade selections, when it comes to catastrophe bond market losses from hurricane Ian.

The U.S. Federal Emergency Management Agency (FEMA) has issued an estimate of flood insurance claims for the National Flood Insurance Program (NFIP) from hurricane Ian, giving a range of $3.5 billion to $5.3 billion, at which level the catastrophe bonds wouldn’t face losses.

The National Flood Insurance Program’s (NFIP) reinsurance tower is coming into view of the rising hurricane Ian claims burden, as NFIP claims filed have now surpassed 35,000, according to the US Federal Emergency Management Agency (FEMA).