Pelican B $50mn Class B notes set for total loss
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
Insurance Insider ILS is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Pelican B $50mn Class B notes set for total loss

Louisiana Citizens.png

Louisiana Citizens’ Pelican Re 2021 cat bond is expected to be a total loss, after loss creep from Hurricane Ida eroded the $50mn Class B layer and the insurer exhausted its reinsurance coverage for the storm, sources said.

This means that all three cat bonds the state insurer had on risk in 2021 have defaulted due to the hurricane.

Enter your e-mail to claim a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Gift this article