Heritage expands named storm coverage of Citrus Re deal to $215mn-$235mn
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Heritage expands named storm coverage of Citrus Re deal to $215mn-$235mn

Abbie Wood
26 April 2023
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Florida carrier Heritage has widened its named storm coverage target size to $215mn-$235mn across two tranches of notes, excluding Alabama, Florida, Georgia, Louisiana, Maine, Mississippi, Tennessee and Texas.

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

Initially, Heritage was seeking $80mn in Class A notes with the guide pricing at 675-775 basis points (bps).

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