Ursa Re Ltd. Series 2018-1

The latest catastrophe bond to be sponsored by the California Earthquake Authority (CEA), the Ursa Re Ltd. (Series 2018-1) transaction, is set to achieve the upper-end of the targeted size at $250 million, while pricing has now been fixed at just below the mid-point of initial guidance.

Pricing has tightened for the new up to $250 million Ursa Re Ltd. (Series 2018-1) catastrophe bond that is being currently marketed on behalf of the California Earthquake Authority (CEA) and at the moment looks like it will settle close to or just below the initial guidance mid-point.

The California Earthquake Authority, the not-for-profit residential earthquake insurance provider, is returning to the capital markets for another slice of reinsurance protection with a new Ursa Re Ltd. (Series 2018-1) catastrophe bond that targets up to $250 million of coverage.