California Earthquake Authority

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CEA successfully upsizes Sutter Re 2020 quake cat bond 75% to $700m

The California Earthquake Authority (CEA) has now settled for a 75% upsizing of its latest catastrophe bond issuance, with the Sutter Re Ltd. (Series 20201- & 2020-2) issuance now fixed to provide $700 million of collateralised earthquake reinsurance protection. The not-for-profit residential earthquake insurer of California had returned to the catastrophe read the full article →

CEA’s target for Sutter Re cat bond lifted again, now up to $740m

The targeted issuance size for the latest catastrophe bond to be sponsored by the California Earthquake Authority (CEA) has risen again, with the Sutter Re Ltd. (Series 20201- & 2020-2) issuance now aiming for as much as $740 million of reinsurance protection for the sponsor. California’s not-for-profit residential earthquake insurer, the read the full article →

CEA now targets up to $700m of reinsurance from new Sutter Re cat bond

California's not-for-profit residential earthquake insurer the California Earthquake Authority (CEA) is hoping to significantly upsize its latest catastrophe bond issuance, with the Sutter Re Ltd. (Series 20201- & 2020-2) issuance now targeting up to $700 million of reinsurance protection. The California Earthquake Authority (CEA) returned to the catastrophe bond market about read the full article →

California Wildfire Fund seeks reinsurance renewal, program expansion

The California Wildfire Fund, which was established last year to back some of the wildfire liabilities related to utilities operating in the state, will go back to the reinsurance market to seek a renewal and an expansion of its first program for 2020 and beyond. The California Wildfire Fund was set read the full article →

CEA returns with $400m Sutter Re 2020 catastrophe bond

The California Earthquake Authority (CEA) has returned to the catastrophe bond market for the first time this year, seeking to add at least $400 million of earthquake reinsurance protection with a Sutter Re Ltd. (Series 20201- & 2020-2) issuance. The CEA is the not-for-profit residential earthquake insurance provider in the state read the full article →

Guy Carpenter wins California Wildfire Fund reinsurance program

Reinsurance broker and advisor Guy Carpenter has been selected as the sole reinsurance and risk transfer intermediary for the recently established California Wildfire Fund, which is administered by the California Earthquake Authority (CEA). As we previously reported, the California Earthquake Authority (CEA) has gained an expanded remit by taking on administrative read the full article →

CEA’s Wildfire Fund role includes reinsurance & risk transfer set-up

The California Earthquake Authority (CEA) will look to set up a reinsurance and risk transfer program for California’s recently approved $21 billion wildfire insurance fund, we can now confirm. As we reported earlier this month, the California Earthquake Authority (CEA) is gaining an expanded remit, as it is set to take read the full article →

CEA takes on Wildfire Fund admin. Remit could see re/insurance bought

The California Earthquake Authority (CEA) is gaining an expanded remit, as it is set to take on administrative responsibility for California's recently approved $21 billion wildfire insurance fund. The $21 billion wildfire insurance fund is being set up to provide a source of capital that will cover some of the costs read the full article →

CEA policy uptake rises, more risk transfer will be required: Pomeroy

The California Earthquake Association (CEA), the non-profit provider of over 76% of residential earthquake insurance policies in California, has reported a significant increase in policy uptake in 2016, which the CEO told Artemis will mean more risk transfer will likely be required. California, as one of the most earthquake prone regions read the full article →

CEA reinsurance program nears $4.5bn, but cat bonds hard to justify

The California Earthquake Authority (CEA) is set to increase the size of its reinsurance program with an April placement set to take its total risk transfer to $4.5 billion, but ILS investors have not seen a new catastrophe bond as currently they are hard to justify due to the cost. The read the full article →