California Earthquake Authority

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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 →

Ursa Re 2015-1 cat bond grows to $250m, prices at top-end

The California Earthquake Authority's latest visit to the catastrophe bond market for the issuance of Ursa Re Ltd. (Series 2015-1), has been well-received by investors, with the cat bond set to grow in size by two-thirds to $250m, while the pricing has settled at the top-end of guidance.The CEA's latest read the full article →

Ursa Re 2015-1 cat bond sponsored by California Earthquake Authority

The California Earthquake Authority is back in the catastrophe bond market, seeking at least $150m of fully collateralized, capital market-backed reinsurance protection, with the issuance of Ursa Re Ltd. (Series 2015-1).The Ursa Re 2015-1 cat bond will be the California Earthquake Authority's second under the Ursa special purpose insurer, after read the full article →

Catastrophe bonds 20% of CEA’s risk transfer, more possible in 2015

Catastrophe bonds now contribute more than 20% of the California Earthquake Authority's risk transfer and reinsurance coverage and there will likely be more to come as the organisation looks to leverage its transformers again in 2015.The California Earthquake Authority (CEA), a not-for-profit, publicly managed-privately funded, provider of homeowner and renters read the full article →

CEA appreciates capital market’s support for Ursa Re cat bond: CEO

The growing participation of the capital markets and ILS investors in the transfer of natural disaster risks is positive for the California Earthquake Authority and its customers according to its CEO Glenn Pomeroy, as evidenced by its latest cat bond Ursa Re Ltd. (Series 2014-1).The California Earthquake Authority (CEA) is read the full article →

Ursa Re 2014-1 CalQuake cat bond prices above mid-point

In another sign that investors will not keep lowering the relative returns on catastrophe bonds the Ursa Re Ltd. (Series 2014-1) cat bond, sponsored by the California Earthquake Authority, has been priced above the original mid-point.It's the first cat bond in a while to price higher than the middle of read the full article →