NCIUA boosts latest cat bond to $250mn
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NCIUA boosts latest cat bond to $250mn

Kit Heren
09 March 2021
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US Currency: Wads of US bills fastened with rubber bands, close-up
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The North Carolina Insurance Underwriting Association (NCIUA) has increased the amount it is looking to raise from its latest cat bond to $250mn, up 150% from $100mn at the start of the marketing process.

The spread for the single-tranche Cape Lookout Re 2021-1 bond has dropped from 350-400 basis points (bps) to 325-350 bps, 10% down at the midpoint.

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Catastrophe bondsNews
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Kit Heren
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