24 November 2023News
Blue Ridge Re cat bonds issued
The Bermuda Stock Exchange has admitted $400 million worth of catastrophe bonds issued by Blue Ridge Reinsurance.
The four-year Class A and Class B bonds are sponsored by the North Carolina Farm Bureau and carry coupon of 5.25% and 8% respectively.
The bonds will now provide the non-profit insurer with multi-year reinsurance against named storm losses in its state of North Carolina.
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