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Pelican Re Ltd

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

25th April 2013

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 coupon being paid to investors […]

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Pelican Re 2013 catastrophe bond pricing drops, likely to upsize

19th April 2013

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 the Pelican Re 2013 cat […]

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

11th April 2013

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 the insurer looking to tap […]

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Pricing tempts Louisiana Citizens into Pelican Re 2013 cat bond

5th April 2013

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 price was right the insurer […]

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Hurricane Isaac losses confirmed too low to impact Pelican Re cat bond

16th October 2012

Finally a statement has come from the Louisiana state property insurer of last resort, Louisiana Citizens, which confirms that their losses from hurricane Isaac insurance claims will not be sufficient to trigger the Pelican Re Ltd. (Series 2012-1) catastrophe bond. There have been a number of statements where LA Citizens have said they expect the […]

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