California Earthquake Authority

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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 →

CalQuake cat bond Ursa Re 2014-1 hits $400m, price moves to mid-point

The Ursa Re Ltd. (Series 2014-1) catastrophe bond, sponsored by the California Earthquake Authority, has benefited from investor demand helping it grow in size taking the total issuance to $400m, while pricing has narrowed towards the mid-point of guidance.The Ursa Re cat bond features two tranches of notes, one Class A read the full article →

Ursa Re 2014-1 catastrophe bond launches for California Earthquake Authority

The California Earthquake Authority is returning to the catastrophe bond market with its latest issuance under a newly registered vehicle. The Ursa Re Ltd. (Series 2014-1) cat bond is targeting at least $350m of collateralized California quake reinsurance.The California Earthquake Authority is the provider of homeowners earthquake cover in the state read the full article →

Cat bonds help California Earthquake Authority to offer rate reduction

The California Earthquake Authority (CEA), the publicly managed residential earthquake insurance provider, is proposing to reduce homeowners rates, as savings made due to catastrophe bonds and lower-cost reinsurance flow through to consumers.The CEA has sponsored a number of catastrophe bonds in recent years, including 2011's Embarcadero Re Ltd. (Series 2011-1) read the full article →