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The state carrier is moving to redeem its 2022 Everglades issuance a year early. -
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The carrier is seeking to raise $100mn of coverage.
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The bond will provide parametric cover for earthquake and windstorms.
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Some $415mn of capacity entered the market last year.
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The bond will provide protection against Japanese flood and quake events.
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Sabine Re marks Allied Trust’s entry to the market.
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Exposure updates played a greater role than expected.
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The cover will include the 50 US states, District of Columbia and Canada.
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Class A notes are priced at 1,400bps, Class B at 1,725bps.
