Sutter Re Ltd

The California Earthquake Authority (CEA) has maintained its reinsurance and catastrophe bond tower at $9.1 billion in size through the start of 2024, with its most recent renewals for April 1st seeing the insurer securing almost $1.2 billion in protection.

The California Earthquake Authority (CEA) entered the January reinsurance renewals with almost one billion dollars more in risk transfer than a year earlier, as the group reached December 31st 2023 with $9.1 billion of protection in-force.

The California Earthquake Authority (CEA) is said to have stabilised its risk transfer and reinsurance program, while increasing its claims paying capacity to the 1-in-365-year return period, as of January 1st 2024, according to rating agency AM Best.

The California Earthquake Authority (CEA) increased the size of its overall risk transfer and reinsurance program up to November 1st, hitting that date with $9.26 billion in-force, as part of which the CEA’s catastrophe bonds had increased their share.

The California Earthquake Authority (CEA) increased its overall risk transfer and reinsurance protection through the middle of the year, lifting the program to almost $8.86 billion in size, with its catastrophe bonds making up a steady 24% of the total.

The California Earthquake Authority (CEA) has now finalised its new Sutter Re Ltd. (Series 2023-1) catastrophe bond issuance, securing the upsized target of $425 million of reinsurance protection, representing a 42% increase from the initial launch size.

The California Earthquake Authority (CEA) has increased the target size for its latest catastrophe bond , with now up to $425 million of earthquake reinsurance sought from the Sutter Re Ltd. (Series 2023-1) issuance.

The California Earthquake Authority (CEA) has returned to the catastrophe bond market in search of a further $300 million or more in collateralized California earthquake reinsurance protection from the capital markets, sponsoring a Sutter Re Ltd. (Series 2023-1) cat bond.

As the California Earthquake Authority (CEA) fast approaches one of its major reinsurance renewals for the year at April 1st, the earthquake insurer has seen the risk transfer program shrink a little further to just under $8.1 billion by January 31st.

One of the world’s largest reinsurance buyers the California Earthquake Authority (CEA) has had its ratings downgraded because its claims paying capacity has been reduced, with lack of reinsurance one of the driving factors.