With the completion of their second earthquake catastrophe bond through the Embarcadero Re Ltd. Bermuda domiciled SPV, the California Earthquake Authority now receives 10% of its risk transfer cover from the capital markets via catastrophe bonds. The second Embarcadero Re deal, a $150m single tranche of Series 2012-1 cat bond notes, provides another layer of […]
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The second California Earthquake Authority catastrophe bond to be issued through the dedicated Bermuda domiciled Embarcadero Re Ltd. SPV has completed successfully and the notes issued have been listed on the Bermuda Stock Exchange. The CEA returned to the cat bond market seeking another fully collateralized, multi-year tranche of reinsurance cover from the capital markets […]
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More details have been published on the second California Earthquake Authority catastrophe bond to be issued through the dedicated Bermuda domiciled Embarcadero Re Ltd. SPV. The CEA is issuing another cat bond (as we revealed yesterday) to secure an increased level of cover for earthquakes impacting California on a three year, fully collateralized basis. The […]
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As expected, the California Earthquake Authority are returning to the catastrophe bond market to issue another cat bond using their dedicated Embarcadero Re Ltd. Bermuda based SPV. The first Embarcadero Re deal was issued in August last year and it secured them $150m of cover. Now, sources have confirmed to us that the second deal […]
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