Heritage seeks $180mn of named storm coverage in Citrus Re deal

25 April 2023

Florida carrier Heritage is seeking $180mn of named storm coverage across two tranches of notes, excluding Florida and other southern states.

Both tranches will provide coverage on an indemnity, per-occurrence basis.

The Class A tranche is sized at $80mn, with the guide pricing at 675-775 basis points (bps), giving a midpoint multiplier of 4.3x

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