NCIUA prices $250mn cat bond at bottom of range
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NCIUA prices $250mn cat bond at bottom of range

Kit Heren
10 March 2021
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Houses in Houston suburb flooded from Hurricane
Houses in Houston suburb flooded from Hurricane, August 2018 | Banphote Kamolsanei/Getty Images/iStockphoto

The North Carolina Insurance Underwriting Association (NCIUA) has priced its latest cat bond at the bottom of the updated range offered to investors, with the issuance size up 150% from the original figure, industry sources have said.

The spread for Cape Lookout Re 2021-1 has been finalised at 325 basis points (bps), at the lower end of the 325-350 bps range set earlier.

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Kit Heren
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