Florida Citizens secures $500mn of limit with new Lightning Re cat bond
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Florida Citizens secures $500mn of limit with new Lightning Re cat bond

Liz Bury
21 March 2023
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cloud storm sky with thunderbolt over rural landscape

Florida Citizens has secured $500mn of catastrophe bond coverage with its Lightning Re issuance, with pricing settling at 11.00%, lower by 8% compared to the midpoint of initial guidance.

The ultimate size of the transaction is an increase of 150% on the initial target of $200mn.

The final pricing gives a multiplier of 5.3x

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