Louisiana Citizens Property Insurance Corporation, the non-profit residential and commercial property insurer for those who cannot access private market insurance in the state, eventually secured its latest Catahoula II Re Pte. Ltd. (Series 2022-1) catastrophe bond to provide it $175 million of capital markets backed reinsurance.
The insurer launched its efforts to secure a Catahoula II Re catastrophe bond a few weeks back, when the target size was set at just $100 million.
As we explained in an update last week, the target size was raised considerably, with between $150 million and $200 million of reinsurance protection then being sought.
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