California Earthquake Authority

Artemis has learned that the California Earthquake Authority (CEA) has upsized its coverage ambitions for its latest Ursa Re Ltd. (Series 2023-3)  catastrophe bond, with the target size now lifted to between $575 million and as much as $675 million of reinsurance protection.

The California Earthquake Authority (CEA) has returned to the catastrophe bond market again, seeking $400 million or more in collateralized earthquake reinsurance from the capital markets from an Ursa Re Ltd. (Series 2023-3) issuance.

The California Earthquake Authority (CEA) increased its overall risk transfer and reinsurance protection through the middle of the year, lifting the program to almost $8.86 billion in size, with its catastrophe bonds making up a steady 24% of the total.

The California Earthquake Authority (CEA) has now secured its new Ursa Re Ltd. (Series 2023-2) earthquake catastrophe bond at the upper-end of the targeted size, securing itself $230 million in collateralized earthquake reinsurance from the issuance, while the notes priced towards the lower-end of guidance.

The California Earthquake Authority (CEA) has increased the target size for its new Ursa Re Ltd. (Series 2023-2) earthquake catastrophe bond transaction, with now as much as $230 million in collateralized reinsurance sought from the issuance.

The California Earthquake Authority (CEA) is back to reopen the 144a catastrophe bond market during its traditional summer wind season pause in issuance, seeking $150 million or more in earthquake reinsurance protection via a new Ursa Re Ltd. (Series 2023-2) transaction.

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.