The North Carolina Joint Underwriting Association (NCJUA) has successfully secured an upsized $145 million in aggregate named storm reinsurance from its new Longleaf Pine Re Ltd. (Series 2024-1) catastrophe bond issuance, but its first cat bond since 2013 is now set to price at the top-end of raised guidance, Artemis understands.
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The North Carolina Joint Underwriting Association (NCJUA) has raised the target for its first catastrophe bond since 2013, now seeking up to $140 million in aggregate named storm reinsurance from this Longleaf Pine Re Ltd. (Series 2024-1) issuance, but with the pricing set to be at the top-end of guidance or higher.
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The North Carolina Joint Underwriting Association (NCJUA) has returned to the catastrophe bond market for the first time since 2013, seeking $125 million of more in aggregate named storm reinsurance from this Longleaf Pine Re Ltd. (Series 2024-1) issuance.
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