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CEA targets record risk transfer in 2021, but cites rising reinsurance costs

The California Earthquake Authority (CEA) is targeting to increase the size of its risk transfer and reinsurance program to a new high of almost $9.8 billion of limit in 2021. The CEA's reinsurance and risk transfer program, which includes a significant contribution from catastrophe bonds, ended 2020 at around $9.15 billion read the full article →

CEA to keep risk transfer target stable in 2021, Q1 cat bonds possible

The California Earthquake Authority’s (CEA) reinsurance program has shrunk slightly in the last few weeks, as $400 million of Ursa Re catastrophe bonds matured. But the Authority is aiming to keep its risk transfer target stable for 2021, suggesting more catastrophe bond issues are possible early in the new year. The read the full article →

CEA reinsurance program hits new high at almost $9.6bn

The California Earthquake Authority’s (CEA) reinsurance program has reached a new record high in terms of size at nearly $9.6 billion, which is up almost $1 billion since the January renewals. Helping in this growth is the successful issuance of two large catastrophe bond deals in 2020 so far, the $700 read the full article →

CEA successfully upsizes Sutter Re 2020 quake cat bond 75% to $700m

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 not-for-profit residential earthquake insurer of California had returned to the catastrophe read the full article →

CEA’s target for Sutter Re cat bond lifted again, now up to $740m

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 read the full article →

CEA now targets up to $700m of reinsurance from new Sutter Re cat bond

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 Earthquake Authority (CEA) returned to the catastrophe bond market about read the full article →

CEA returns with $400m Sutter Re 2020 catastrophe bond

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. The CEA is the not-for-profit residential earthquake insurance provider in the state read the full article →