Ursa Re Ltd. Series 2017-1

The recently completed $925 million Ursa Re Ltd. (Series 2017-1) catastrophe bond, which is the largest transaction to-date sponsored by the California Earthquake Authority (CEA), had a novel structural feature that will help the insurer tap ILS investor demand in a more timely and cost-efficient manner, according to reinsurer Swiss Re.

The California Earthquake Authority (CEA) has now completed its latest catastrophe bond transaction, with the $925 million Ursa Re Ltd. (Series 2017-1) becoming the insurers largest capital markets risk transfer deal to-date. CFO Tim Richison spoke to Artemis about the deal and told us that the combination of size and price made the deal particularly […]

The California Earthquake Authority’s (CEA) Ursa Re Ltd. (Series 2017-1) catastrophe bond issue now looks set to grow even further than anticipated, with the latest reports stating that the deal is likely to now complete to offer $925 million of reinsurance coverage to the insurer.

The California Earthquake Authority’s (CEA) target for its latest catastrophe bond transaction, Ursa Re Ltd. (Series 2017-1), has been lifted significantly with the insurer now aiming for as much as $900 million of capital market backed reinsurance coverage from the deal.

A new catastrophe bond has launched for the California Earthquake Authority (CEA) and it’s one of the largest deals at launch from this regular sponsor of insurance-linked securities (ILS), a $500 million Ursa Re Ltd. (Series 2017-1) transaction.