Swiss Re Insurance-Linked Fund Management

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Embarcadero Re Ltd.


CEA’s third, and largest, Embarcadero Re catastrophe bond in twelve months completes

1st August 2012

The California Earthquake Authority (CEA) have successfully completed their third catastrophe bond issuance in the last twelve months through the Embarcadero Re Ltd. transformer vehicle, bringing the total cat bond coverage the CEA benefits from to $600m. The latest issuance,  Embarcadero Re Ltd. (Series 2012-2), completed successfully and was rated yesterday, securing the CEA $300m […]

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CEA approved to issue $300m more in catastrophe bonds during 2012

18th May 2012

The California Earthquake Authority governing board has approved the issuance of further catastrophe bonds through a transformer reinsurance vehicle (likely Embarcadero Re Ltd.) during 2012. At a recent governing board meeting approval was sought to issue up to $300m in additional catastrophe bonds this year if the market terms and pricing are conducive and the […]

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CEA’s Embarcadero Re 2012-1 completes and notes list in Bermuda

6th February 2012

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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