California Earthquake Authority news

Quotes received from the reinsurance market at the mid-year renewals did not deliver on the pricing and structure that was sought for the California Wildfire Fund, resulting in the purchase of risk transfer not being completed.

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 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 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 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 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.

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).

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.

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 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.