Catastrophe Insurance Finance

Raymond James is a leader in the governmental risk management finance sector and one of the foremost national experts in this field. We have gained this expertise and reputation due to our role as financial advisor or underwriter to:

California Earthquake Authority
Citizens Property Insurance Corporation
Florida Hurricane Catastrophe Fund
Florida Insurance Guaranty Association
Louisiana Citizens Property Insurance Corporation
Metropolitan Transportation Authority
North Carolina Insurance Underwriting Association
Texas Windstorm Insurance Association

In these roles, we have done it all in the risk management-related financing arena, including:

Transferring risk in the traditional reinsurance markets in the amount of approximately $22.3 billion
Transferring risk in the capital markets in the amount of $3.7 billion
Raising capital through municipal bonds and liquidity facilities in the amount of approximately $33 billion

Experience and Expertise:

	California Earthquake Authority	Financial advisor on four ground-breaking catastrophe bond financings in 2011, 2012 and 2014 for $1 billion; assisted in approximately $18 billion in traditional reinsurance programs since 2009. Financial advisor on approximately $5.5 billion in fixed income assets.
	Citizens Property Insurance Corporation	Financial advisor on eight debt transactions for $13.3 billion; five bank liquidity issues of over $4.4 billion; assisted in $750 million catastrophe bond financing in 2012, the largest transaction ever and the first transaction for Citizens, as well as a record-breaking $1.5 billion catastrophe bond financing in April 2014; participated in $3.9 billion in traditional reinsurance. Financial advisor on approximately $14 billion in assets under management.
	Florida Hurricane Catastrophe Fund	Financial advisor on seven debt transactions for $15 billion, including the $2 billion Series 2013A pre-event taxable financing with a seven year final maturity and TIC of 2.61% as well as an innovative post-event financing put option for $4 billion notional amount. Financial advisor on over $13 billion in assets under management.
	Florida Insurance Guaranty Association	Financial advisor; helped develop legal mechanism, prepare bond documents, and obtain credit ratings for future issuances. Financial advisor on $200 million in assets under management.
	Louisiana Citizens Property Insurance Corporation	Senior manager on $300 million tax-exempt bond fixed rate conversion in 2009 and $54 million tax-exempt bond refunding in 2012; led rating agency efforts to a ratings upgrade.
	Metropolitan Transportation Authority	Financial advisor on inaugural catastrophe bond issuance in July 2013 to transfer $200 million of storm surge risk, the first catastrophe bond issuance by a governmental entity; advised on $600 million of risk transfer in 2014, including traditional and for the first time, non-traditional reinsurance.
	North Carolina Insurance Underwriting Association	Named to co-manager underwriting team in 2010; sought out by new general manager in March 2012 to provide advice on legislative and financing options.
	Protecting America.org	Financial advisor to industry consortium led by Allstate and State Farm trying to enact responsible national catastrophe insurance legislation; led efforts to successfully gain House Financial Services Committee approval in 2010; met with national leaders in the White House (including Treasury Secretary) and Congress (including House Speaker) to advance this initiative.
	Texas Windstorm Insurance Association	Named to senior manager underwriting team in 2009; testified at legislative hearings and contributed important concepts and language to revised legislation in 2011; proposed non-traditional risk transfer for 2013 season.