Nephila doubles reinsurance line for Florida Citizens

Nephila Capital led an expansion of collateralised reinsurance
participation on the 2017 programme for Florida Citizens Property
Insurance as it more than doubled its line to $286mn.
This took total collateralised limit to above 40 percent of the
$1.0bn programme, compared to a 24 percent share of last year's
smaller $664.3mn limit.
However, at that time Citizens also had $1.8bn of cat bond limit
available to it on top of its traditional reinsurance, whereas this
year itonly placed $300mn...