Pelican IV Re Ltd. Series 2021-1

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LA Citizens says reinsurance & cat bonds to take majority of $461m Ida loss

Louisiana Citizens Property Insurance Corporation has reported an estimated loss from hurricane Ida of around $461 million, but thanks to its low retention on its reinsurance tower and its catastrophe bonds, the residual market insurer will only retain $35 million. At a Board meeting held last week, Louisiana Citizens staff updated read the full article →

LA Citizens occurrence cat bonds marked down again on Ida loss expectation

Two outstanding per-occurrence catastrophe bond tranches sponsored by Louisiana Citizens Property Insurance Corporation have been marked down much further on some broker pricing sheets in the last week, with secondary market bid pricing now implying a market expectation of a significant loss of principal. Secondary cat bond broker pricing sheets show read the full article →

Louisiana Citizens new $125m Pelican 2021 cat bond prices far below guidance

Louisiana Citizens Property Insurance Corporation, the non-profit residential and commercial property insurer for those who cannot access private market insurance in the state, looks set for strong execution with its sponsorship of a new $125 million Pelican IV Re Ltd. (Series 2021-1) catastrophe bond. Louisiana Citizens returned to use its Bermuda read the full article →

Louisiana Citizens returns to Bermuda for $125m Pelican IV Re 2021 cat bond

Louisiana Citizens Property Insurance Corporation, the non-profit residential and commercial property insurer for those who cannot access private market insurance in the state, is back in the market for its latest slice of catastrophe bond backed reinsurance protection, with a $125 million Pelican IV Re Ltd. (Series 2021-1) deal. For its read the full article →