{"id":203900,"date":"2026-03-24T13:25:10","date_gmt":"2026-03-24T13:25:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/203900\/"},"modified":"2026-03-24T13:25:10","modified_gmt":"2026-03-24T13:25:10","slug":"florida-peninsula-targets-150m-named-storm-reinsurance-with-palm-re-2026-1-cat-bond","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/203900\/","title":{"rendered":"Florida Peninsula targets $150m named storm reinsurance with Palm Re 2026-1 cat bond"},"content":{"rendered":"

Florida Peninsula Insurance Company is back in the catastrophe bond market looking to secure $150 million or more in named storm reinsurance from its third sponsorship of a Palm Re Ltd. (Series 2026-1)<\/a> cat bond issuance, Artemis understands.
\"florida-peninsula-insurance-logo\"Florida Peninsula secured $150 million of Florida named storm reinsurance from its debut catastrophe bond deal, the Palm Re Ltd. (Series 2024-1)<\/a> issuance.<\/p>\n

The insurer then followed that up with a further $250 million of named storm reinsurance from a Palm Re Ltd. (Series 2025-1)<\/a> cat bond issuance sponsored one year ago.<\/p>\n

Now the insurer is back and looking to add more catastrophe bond backed protection to its reinsurance tower with its third sponsorship in 2026, we have learned.<\/p>\n

Like its first two cat bonds, Florida Peninsula Insurance Company, a specialist property underwriter in the state, is targeting reinsurance protection for itself and subsidiaries Edison Insurance Company and the Ovation Home Insurance Exchange with its third catastrophe bond.<\/p>\n

Palm Re Ltd., Florida Peninsula\u2019s Bermuda based special purpose insurer (SPI), is offering a single tranche of Series 2026-1 Class A notes, that are designed to provide the company with indemnity based Florida named storm reinsurance on a per-occurrence basis and over a three year term running from June 1st 2026.<\/p>\n

The $150 million of Palm Re Series 2026-1 Class A cat bond notes would attach their coverage at $970 million of losses to the ceding companies and protect a share up to exhaustion at $1.42 billion, sources said.<\/p>\n

The Class A notes will come with an initial attachment probability of 1.56%, an initial base expected loss of 1.36% and the cat bond is being offered to investors with spread price guidance in a range from 5.75% to 6.25%, we are told.<\/p>\n

We\u2019re understand that this new Palm Re 2026-1 catastrophe bond will sit higher up in the Florida Peninsula reinsurance tower, with the 2025 and 2024 notes both in layers beneath it.<\/p>\n

It\u2019s encouraging to see Florida Peninsula continuing to embrace the catastrophe bond market for reinsurance, looking to layer the protection from the Palm Re issuances throughout layers of the tower.<\/p>\n

You can read all about this new Palm Re Ltd. (Series 2026-1)<\/a> catastrophe bond transaction and every other cat bond ever issued in our Artemis Deal Directory<\/a>.<\/p>\n


\n \"Print
\n <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Florida Peninsula Insurance Company is back in the catastrophe bond market looking to secure $150 million or more…\n","protected":false},"author":2,"featured_media":203901,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[93731,93732,28,30,29,93733,93734,93735,49723],"class_list":{"0":"post-203900","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-florida","8":"tag-cat-bond","9":"tag-catastrophe-bond","10":"tag-florida","11":"tag-florida-headlines","12":"tag-florida-news","13":"tag-insurance-linked-securities","14":"tag-palm-re-ltd","15":"tag-palm-re-ltd-series-2026-1","16":"tag-reinsurance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/203900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=203900"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/203900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/203901"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=203900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=203900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=203900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}