The California Earthquake Authority (CEA) has now secured and priced its new Ursa Re Ltd. (Series 2023-1) catastrophe bond to provide it an upsized $200 million of reinsurance, while on average the spreads settled around 10% below the initial mid-point of guidance.
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The California Earthquake Authority (CEA) has lifted its target for its new Ursa Re Ltd. (Series 2023-1) catastrophe bond transaction, with now $200 million of reinsurance sought, while the pricing guidance has dropped for both of the tranches being issued.
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The California Earthquake Authority (CEA) is back in the catastrophe bond market, seeking $175 million or more in reinsurance protection with an Ursa Re Ltd. (Series 2023-1) transaction.
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