Two Florida carriers launch debut cat bonds

Florida insurers Security First and United P&C both launched
first-time cat bond issuances last week, sister publication
Trading Risk reported.
The duo are the third and fourth Sunshine state carriers to tap
the insurance-linked securities market for reinsurance cover this
year, following earlier deals from take-out companies Heritage and
Safepoint.
Each is seeking to raise $100mn of additional cover before the
hurricane season kicks off on 1 June.
Security First is using Swiss Re as a front