Citrus Re lists $100m in catastrophe bonds

Citrus Re has listed  $100 million of catastrophe bonds on the Bermuda Stock Exchange, according to a listing announcement. 

The bonds, ceded by Florida-based insurer Heritage Insurance Holdings secured the funds in collateralized US named storm reinsurance from a new Citrus Re Ltd. (Series 2024-1)  catastrophe bond issuance.

The bonds are divided into $50 million Class A and Class B issues due in 2027. They carry coupons of 9.25% and 10.5% respectively, it has been reported. 

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