Personal Insurance

Florida Citizens plans to call $1.1bn of cat bonds. Expects to save on a partial replacement

Florida’s Citizens Property Insurance Corporation is planning to call its $1.1 billion of catastrophe bonds in advance of its renewal, to enable it to take advantage of current market conditions and may sponsor issuance of around $600 million of new cat bonds this year to make a saving on its risk transfer costs.As we reported earlier, Florida Citizens projected that it will need $3 billion of traditional reinsurance and,.. Read More

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