Ursa Re Ltd. Series 2014-1

The growing participation of the capital markets and ILS investors in the transfer of natural disaster risks is positive for the California Earthquake Authority and its customers according to its CEO Glenn Pomeroy, as evidenced by its latest cat bond Ursa Re Ltd. (Series 2014-1).

In another sign that investors will not keep lowering the relative returns on catastrophe bonds the Ursa Re Ltd. (Series 2014-1) cat bond, sponsored by the California Earthquake Authority, has been priced above the original mid-point.

The Ursa Re Ltd. (Series 2014-1) catastrophe bond, sponsored by the California Earthquake Authority, has benefited from investor demand helping it grow in size taking the total issuance to $400m, while pricing has narrowed towards the mid-point of guidance.

The California Earthquake Authority is returning to the catastrophe bond market with its latest issuance under a newly registered vehicle. The Ursa Re Ltd. (Series 2014-1) cat bond is targeting at least $350m of collateralized California quake reinsurance.