California Earthquake Authority

The California Earthquake Authority (CEA) has now finalised its new Sutter Re Ltd. (Series 2023-1) catastrophe bond issuance, securing the upsized target of $425 million of reinsurance protection, representing a 42% increase from the initial launch size.

The California Earthquake Authority (CEA) has increased the target size for its latest catastrophe bond , with now up to $425 million of earthquake reinsurance sought from the Sutter Re Ltd. (Series 2023-1) issuance.

The California Earthquake Authority (CEA) has returned to the catastrophe bond market in search of a further $300 million or more in collateralized California earthquake reinsurance protection from the capital markets, sponsoring a Sutter Re Ltd. (Series 2023-1) cat bond.

The California Earthquake Authority (CEA) has now secured and priced its new Ursa Re Ltd. (Series 2023-1) catastrophe bond to provide it an upsized $200 million of reinsurance, while on average the spreads settled around 10% below the initial mid-point of guidance.

The California Earthquake Authority (CEA) has lifted its target for its new Ursa Re Ltd. (Series 2023-1) catastrophe bond transaction, with now $200 million of reinsurance sought, while the pricing guidance has dropped for both of the tranches being issued.

The California Earthquake Authority (CEA) is back in the catastrophe bond market, seeking $175 million or more in reinsurance protection with an Ursa Re Ltd. (Series 2023-1) transaction.

As the California Earthquake Authority (CEA) fast approaches one of its major reinsurance renewals for the year at April 1st, the earthquake insurer has seen the risk transfer program shrink a little further to just under $8.1 billion by January 31st.

One of the world’s largest reinsurance buyers the California Earthquake Authority (CEA) has had its ratings downgraded because its claims paying capacity has been reduced, with lack of reinsurance one of the driving factors.

The California Earthquake Authority (CEA) has seen the traditional reinsurance component of its risk transfer arrangements shrink further at the 1/1 renewals, according to the latest estimate from the insurer.

Having struggled in placing reinsurance in October and feeling that the January renewals could be a further challenge, the California Earthquake Authority (CEA) has successfully sponsored the largest catastrophe bond issue since hurricane Ian struck, securing a new $305 million Ursa Re II Ltd. (Series 2022-2) deal.