Ursa Re II Ltd

Share

CEA’s risk transfer shrinks slightly, as cat bond cover declines

The California Earthquake Authority’s (CEA) reinsurance and catastrophe bond based risk transfer program has shrunk back to just slightly under $9.3 billion in size, as the insurer also experiences challenges in the market due to harder pricing. Overall, the California Earthquake Authority’s (CEA) total capacity has declined from $19.6 billion at read the full article →

CEA to complete Ursa Re II 2022 cat bond at reduced $245m

The California Earthquake Authority (CEA) will now secure its latest catastrophe bond to provide a reduced $245 million in collateralized California earthquake reinsurance protection through the Ursa Re II Ltd. (Series 2022-1) issuance. The initial target size was $275 million when the CEA came back to market for its latest catastrophe read the full article →

CEA drops Ursa Re II 2022 cat bond target to $255m max

The California Earthquake Authority (CEA) has lowered its target for its latest catastrophe bond, with its target now for up to $255 million in collateralized California earthquake reinsurance protection through the Ursa Re II Ltd. (Series 2022-1) issuance. Likely in response to more challenging and higher priced market conditions for catastrophe read the full article →

CEA targets $275m Ursa Re II 2022 California quake catastrophe bond

The California Earthquake Authority (CEA) is back in the catastrophe bond market for the first time in more than a year, seeking $275 million or more of collateralized California earthquake reinsurance protection through an Ursa Re II Ltd. (Series 2022-1) issuance. The California Earthquake Authority (CEA) is among the most prolific read the full article →

CEA board votes for 1-in-350 year minimum risk transfer strategy

The board of the California Earthquake Authority (CEA) has voted to approve a motion for the insurer to buy sufficient risk transfer to support claim-paying capacity at no less than the 1-in-350 year level and no greater than the 1-in-500 year level. It represents a slightly lower threshold than previous years, read the full article →

CEA reinsurance & risk transfer shrinks slightly, but growth still possible

The California Earthquake Authority's (CEA) reinsurance and catastrophe bond based risk transfer program shrank slightly by December 1st 2021, but with forecasts suggesting it could need to buy as much as $6 billion more in limit over just the next 5 years, further growth seems likely. As we previously reported, the read the full article →

CEA’s risk transfer returns to $9.6bn. Short-term future needs less certain

The California Earthquake Authority (CEA) increased the size of its reinsurance and catastrophe bond risk transfer program by around 4.4% as of the end of July 2021, to reach almost $9.6 billion, but in the short-term future growth of the program seems less certain due to rising exposure and the read the full article →

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 gets $215m Ursa Re cat bond at 11% reduced pricing

The California Earthquake Authority (CEA) has successfully secured its first catastrophe bond transaction of 2021 at the upsized $215 million target, while the Ursa Re II Ltd. (Series 2021-1)  catastrophe bond has been priced at the low-end of already reduced coupon guidance. The pricing has moved considerably, once again reflecting high read the full article →

CEA could upsize new Ursa Re II cat bond to $215m

The California Earthquake Authority (CEA) has lifted its target size for its first catastrophe bond transaction of 2021, now seeking up to $215 million of fully collateralized earthquake reinsurance protection with the Ursa Re II Ltd. (Series 2021-1)  issuance. When this latest catastrophe bond from the CEA launched to investors a read the full article →