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Florida Citizens' Everglades Re bond priced up by 6% across three tranches. -
CEO Wagstaff said the LMG must "compete with other markets".
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The second part of the PoleStar Re issuance takes the bond's total volume to $300mn.
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Minors has experience working on insurance and reinsurance matters
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Citizens also secured $1.1bn of limit for its Everglades Re cat bond.
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Spreads on all tranches of notes settled above the initially guided range.
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The capital will be allocated to a pure cat bond strategy, sources have confirmed.
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The former Neuberger Berman managing director confirmed the new role in a LinkedIn post.
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Longleaf Pine Re priced, while spreads on Everglades Re deal moved higher.
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Spreads could continue widening throughout the rest of the year.
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Cession ratios declined at three of the four publicly listed Floridians.
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The company plans to reduce its quota share to 20% from 40%.
