Citrus Re Florida cat bond losses clearer

The $30 million Citrus Re 2015-1 Class C tranche of notes is currently estimated to face at least a $20 million loss, although secondary pricing seems to imply that investors may expect a higher reinsurance recovery to be claimed, as pricing sheets have this tranche marked down for bids as low as 10 in some cases, Artemis.bm reports.

http://www.artemis.bm/blog/2018/02/27/citrus-re-cat-bond-losses-clearer-as-heritage-lays-out-recoveries/