Tag: everglades re

Citizens Insurance Plans $4.54B Reinsurance Boost for 2025 to Tackle Catastrophic Risks

Marc
Citizens Insurance Plans Reinsurance Boost

Citizens Property Insurance Plans for 2025 Reinsurance: What You Need to Know Florida’s Citizens Property Insurance Corporation is gearing up for a significant shift in its reinsurance structure for 2025. With plans to secure a new $2.94 billion private market risk transfer, the insurer aims to bolster its reinsurance coverage from traditional and capital markets to an ambitious total of around $4.54 billion. This coverage plan comes with a budgeted premium of approximately $650 million, a notable increase from the $482 million premium tied to the $3.564 billion coverage secured…

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Florida insurer issues world’s largest catastrophe reinsurance bond

S.Vagus

Citizens breaks world record for largest bond issued Florida’s Citizens Property Insurance has issued the largest catastrophe reinsurance bond in world history. Citizens made a powerful entry into the catastrophic bond market late last week, issuing more than $750 million in bonds. The bonds are considered to be the largest insurance-linked security in the world, putting Citizens in a powerful position in the bond market. Though the state-run insurance organization has been facing daunting financial problems, the bonds are expected to help solve these challenges. Bonds worth more than $750…

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