The U.S. Federal Emergency Management Agency (FEMA) is planning to sponsor another FloodSmart Re catastrophe bond to provide flood reinsurance to the National Flood Insurance Program (NFIP) and is seeking proposals from potential reinsurance transformer partners.
It’s most recent and fourth cat bond deal, a $575 million FloodSmart Re Ltd. (Series 2021-1) issued in February 2021, will more than replace its soon to mature $500 million transaction from 2018, the FloodSmart Re 2018-1 cat bond.
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