Ursa Re Ltd. Series 2019-1

In a further sign of the increased return expectations of investors in catastrophe bonds, the pricing for the latest catastrophe bond from the California Earthquake Authority has now been fixed at the top-end of initial guidance, we’re told.

The California Earthquake Authority, the not-for-profit residential earthquake insurance provider in the state, has returned to the capital markets to sponsor its first catastrophe bond of 2019, targeting around $400 million of quake reinsurance protection with an Ursa Re Ltd. (Series 2019-1) deal.