Safepoint and Cajun seek $150mn of named storm cat bond cover
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Safepoint and Cajun seek $150mn of named storm cat bond cover

Liz Bury
24 October 2023
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SafePoint Insurance Company and Cajun Underwriters Reciprocal Exchange are seeking $150mn of cat bond coverage for named storm in Florida and Louisiana.

The coverage will be indemnity, per occurrence, with varying attachment and exhaustion levels for Florida and Louisiana.

The $75mn of Class A notes are offering a spread in the range of 900-1,000 basis points (bps), giving a mid-point multiplier of...

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