This means that all three cat bonds the state insurer had on risk in 2021 have defaulted due to the hurricane.
Pelican B $50mn Class B notes set for total loss
![Louisiana Citizens.png](https://assets.euromoneydigital.com/dims4/default/e6c79e6/2147483647/strip/true/crop/700x394+0+0/resize/840x473!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F8a%2Fc3%2Fcc56d8994c688ad094572fb48b58%2Flouisiana-citizens.png)
This means that all three cat bonds the state insurer had on risk in 2021 have defaulted due to the hurricane.