Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

Embarcadero Re Ltd.


CEA plans for January catastrophe bond of up to $300m

12th December 2011

The California Earthquake Authority (CEA) have published some more details of their plans for a return to the catastrophe bond market, presumably through their Embarcadero Re Ltd. Bermuda based SPV. The CEA were particularly pleased with their $150m cat bond that they issued in August which they felt cost them less than traditional reinsurance and […]

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Citi Agency & Trust named as indenture trustee on Embarcadero Re Ltd. catastrophe bond

29th September 2011

A division of Citigroup has been announced today as being the indenture trustee on the recently issued $150m Embarcadero Re Ltd. catastrophe bond which transferred some of the California Earthquake Authority’s (CEA) earthquake risks to the capital markets. Citigroup’s Agency and Trust Services business, acting through Citibank, N.A., will provide trustee services for the tenure […]

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CEA to issue more catastrophe bonds this year if market conditions are right

14th September 2011

The California Earthquake Authority (CEA) completed a ground-breaking $150m catastrophe bond transaction through their newly set-up Embarcadero Re Bermudian reinsurance transformer vehicle at the beginning of August. The transaction was directly transferred to the capital markets through their own Bermuda SPV, thus forgoing the need for a reinsurer participating in the transaction as in their […]

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Mayer Brown provide counsel on ground-breaking CEA catastrophe bond

8th August 2011

Mayer Brown, one of the worlds leading law firms providing services to the insurance-linked securities sector, have issued a press release on their role in the recent $150m securitization of earthquake risk by the California Earthquake Authority (CEA) through their Embarcadero Re Ltd. Bermuda domiciled reinsurer. This ground-breaking deal completed recently to much interest from […]

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