Ursa Re Ltd. Series 2016-1

The California Earthquake Authority (CEA) is pleased that ILS investors helped it to lock in a large slice of reinsurance protection at attractive pricing with its just completed $500 million Ursa Re Ltd. (Series 2016-1) catastrophe bond and may explore sponsoring additional cat bonds in 2017, its CEO told Artemis.

The California Earthquake Authority’s (CEA) is set to achieve its $500 million of collateralized reinsurance protection upper target from the Ursa Re Ltd. (Series 2016-1) catastrophe bond transaction, but pricing has settled at the top end of guidance we’re told.

According to sources the California Earthquake Authority’s (CEA) latest catastrophe bond offering, the Ursa Re Ltd. (Series 2016-1) transaction, could be upsized to as large as $500 million in size with pricing moving towards the upper end of initial guidance.

The California Earthquake Authority (CEA) is back with a $300 million Ursa Re Ltd. (Series 2016-1) catastrophe bond offering, as the provider of earthquake insurance cover in California seeks to continue its relationship with the capital markets through a new transaction.