The California Earthquake Authority (CEA) has now priced its latest catastrophe bond issuance, successfully doubling the Ursa Re Ltd. (Series 2025-1) offering in size to provide it with $400 million in multi-year collateralized California earthquake reinsurance protection.
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Artemis has learned that the California Earthquake Authority (CEA) has now increased the target size for its latest catastrophe bond for a second time, lifting its initial Ursa Re Ltd. (Series 2025-1) offering by 100% to provide $400 million in multi-year collateralized California earthquake reinsurance protection, while the price guidance remains fixed at 7.5%.
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The California Earthquake Authority (CEA) has increased the targeted amount of multi-year collateralized California earthquake reinsurance protection it seeks from capital market investors through its new Ursa Re Ltd. (Series 2025-1) issuance, with now up to $375 million of coverage being sought, while the price guidance has been fixed at 7.5%, Artemis has learned.
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The California Earthquake Authority (CEA) has returned to the catastrophe bond market to sponsor its first issuance since late 2023, seeking $200 million or more in multi-year collateralized California earthquake reinsurance protection from the capital markets through this Ursa Re Ltd. (Series 2025-1) issuance.
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