Florida’s property insurer of last resort, Citizens Property Insurance Corporation, could increase its purchase of reinsurance and catastrophe bond backed risk transfer in 2024, with its new layer structure following the merging of its accounts suggesting as much as $5.5 billion could be purchased next year.
Notable, for 2024, is the fact that Florida Citizens will have far less in multi-year cover from its cat bonds, as it heads into its reinsurance renewals.
