Louisiana Citizens Property Insurance Corporation

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LA Citizens achieved reinsurance savings with Pelican III Re cat bond

Louisiana Citizens Property Insurance achieved attractive savings at its reinsurance renewal thanks to strong investor support for its $100m Pelican III Re Ltd. (Series 2015-1), the insurers third catastrophe bond transaction.The $100m Pelican III Re 2015-1 cat bond secured Louisiana Citizens a fully-collateralized source of per-occurrence reinsurance protection for named read the full article →

Louisiana Citizens Pelican III Re cat bond prices below guidance

Louisiana Citizens Property Insurance's latest catastrophe bond transaction, Pelican III Re Ltd. (Series 2015-1), has now been priced and at a level below the guidance, showing that investors were very willing to support the insurers risk transfer needs, even at a low multiple.The Pelican III Re cat bond is a read the full article →

Louisiana Citizens back with $100m Pelican III Re catastrophe bond

As expected Louisiana Citizens Property Insurance is returning to the catastrophe bond market for the third time with a new SPI vehicle to sponsor a $100m or greater Pelican III Re Ltd. (Series 2015-1) indemnity bond.Louisiana Citizens, the non-profit residential and commercial property insurer for those who cannot access private market read the full article →

Louisiana Citizens will seek to replace Pelican Re cat bond at renewal

Louisiana Citizens, the non-profit residential and commercial property insurer for those who cannot access private market insurance in the state, will seek to replace its Pelican Re Ltd. (Series 2012-1) catastrophe bond at its next reinsurance renewal.Louisiana Citizens Property Insurance Corporation has now sponsored two cat bonds, the 2012 deal read the full article →

Louisiana Citizens passes on cost savings from 2013 reinsurance and cat bond

Demonstrating the value some cedents or sponsors have found in the reinsurance and catastrophe bond market in 2013 due to lower pricing, Louisiana Citizens Property Insurance Corporation, the coastal windstorm insurer of last resort, is passing on savings made to some customers.Louisiana Citizens is planning to lower its rates for read the full article →

Pelican Re 2013 cat bond completes, offers sponsor cost-savings and flexibility

Louisiana Citizens Property Insurance Corporation, the coastal windstorm insurer of last resort in the state of Louisiana, has successfully secured itself a flexible, fully-collateralized layer of reinsurance protection through its second trip to the capital markets as a catastrophe bond sponsor with its Pelican Re Ltd. Series 2013-1 cat bond. read the full article →

Pelican Re 2013 cat bond pricing drops again, upsizes to $140m

Louisiana Citizens Property Insurance Corporation will be delighted that it has returned to the catastrophe bond market. As we revealed last week, the Pelican Re Ltd. Series 2013-1 cat bond was likely to upsize and the price guidance had dropped. Now, we understand, when the cat bond priced yesterday the read the full article →

Pelican Re 2013 catastrophe bond pricing drops, likely to upsize

This won't surprise anyone who has been following the catastrophe bond market in recent weeks, the latest cat bond in the market, Pelican Re Ltd. Series 2013-1, has seen its pricing drop during marketing and is likely to upsize to $140m before it closes. Following the trend for recent transactions read the full article →

Pelican Re 2013 cat bond features novel on-request drop-down

In our discussions with market participants this week we've managed to glean a few more details about the recently launched second catastrophe bond from Louisiana Citizens Property Insurance Corporation, the coastal windstorm insurer of last resort. The Pelican Re Ltd. Series 2013-1 cat bond launched late last week and sees read the full article →

Pricing tempts Louisiana Citizens into Pelican Re 2013 cat bond

Louisiana Citizens Property Insurance Corporation, the coastal windstorm insurer of last resort in the state of Louisiana, has launched a new catastrophe bond deal, Pelican Re Ltd. Series 2013-1, according to sources. This is not altogether unexpected given that LA Citizens CFO Steve Cottrell had recently said that if the read the full article →