Citizens boosts liquidity with $1.95bn
Florida's state-run insurer Citizens has completed two transactions to provide $1.95bn in extra claims-paying liquidity for its personal and commercial lines accounts, the AM Best newswire has reported.
According to the report today, Citizens has opened a $1bn, 364 line of credit from a syndicate of banks led by Citigroup and JP Morgan.
It has also completed a $950m taxable auction-rate bond issuance
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