Golden Bear Re Ltd

The California FAIR Plan Association has returned to the catastrophe bond market for its second sponsorship, seeking $200 million or more in capital markets backed wildfire reinsurance protection through a Golden Bear Re Ltd. (Series 2026-2) cat bond issuance, Artemis can report.

The California FAIR Plan, having recently come to market to sponsor its debut wildfire catastrophe bond and secured $750 million of reinsurance from the Golden Bear Re Ltd. (Series 2026-1) issuance, has now commented on the deal to say that the cat bond “augments” its robust reinsurance program arrangements.

The California FAIR Plan Association has now successfully priced and secured what will become the largest catastrophe bond exposed to wildfire risks ever, as the Golden Bear Re Ltd. (Series 2026-1) issuance will provide it $750 million of reinsurance, Artemis can report.

Having upsized the target for its debut wildfire catastrophe bond sponsorship to a significant $750 million of reinsurance, we’ve now learned that the California FAIR Plan Association is also seeking to reduce the risk interest spread it will pay for the Golden Bear Re Ltd. (Series 2026-1) issuance as well.

The California FAIR Plan Association has raised the target for its debut wildfire catastrophe bond Golden Bear Re Ltd. (Series 2026-1) to provide it an even more meaningful $750 million of reinsurance, while the price guidance for the notes has been revised at the bottom of initial guidance, Artemis understands from sources.

The California FAIR Plan Association is aiming to upsize its debut catastrophe bond, with the target size now raised to secure between $350 million and $500 million in wildfire reinsurance protection through the Golden Bear Re Ltd. (Series 2026-1) cat bond issuance, Artemis has learned.

The California FAIR Plan Association is sponsoring its first catastrophe bond, with an initial target to secure $250 million or greater in capital markets backed wildfire reinsurance protection through a Golden Bear Re Ltd. (Series 2026-1) cat bond issuance, Artemis has learned.