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CEA’s target for Ursa Re 2017-1 cat bond jumps up to $900m

The California Earthquake Authority's (CEA) target for its latest catastrophe bond transaction, Ursa Re Ltd. (Series 2017-1), has been lifted significantly with the insurer now aiming for as much as $900 million of capital market backed reinsurance coverage from the deal.According to sources the CEA's latest cat bond is now read the full article →

$500m Ursa Re 2017-1 cat bond launches for California Earthquake Authority

A new catastrophe bond has launched for the California Earthquake Authority (CEA) and it's one of the largest deals at launch from this regular sponsor of insurance-linked securities (ILS), a $500 million Ursa Re Ltd. (Series 2017-1) transaction.It's the California Earthquake Authority's first public catastrophe bond issue since last November, read the full article →

CEA ups reinsurance & risk transfer by 15% to $6.33bn at 1/1

As of the 1st January 2017 the California Earthquake Authority (CEA) increased the amount of reinsurance and risk transfer that it benefits from by another 15% to reach a record high of just under $6.33 billion.The California Earthquake Authority (CEA) has been steadily utilising increasing amounts of risk transfer capacity read the full article →

CEA grows risk transfer by 20% to $5.4bn, $1.15bn of cat bonds help

As of December 1st 2016 the California Earthquake Authority (CEA) has grown the size of its reinsurance program to $5.4 billion, an increase of 20% since April 2016 when the program was $4.5 billion in size, and with catastrophe bonds now contributing over 21% of its risk transfer.Earlier this year read the full article →

CEA likes Ursa Re execution, may look to cat bonds again in 2017: CEO

The California Earthquake Authority (CEA) is pleased that ILS investors helped it to lock in a large slice of reinsurance protection at attractive pricing with its just completed $500 million Ursa Re Ltd. (Series 2016-1) catastrophe bond and may explore sponsoring additional cat bonds in 2017, its CEO told Artemis.The read the full article →

CEA to get $500m of reinsurance with Ursa Re cat bond, priced at top-end

The California Earthquake Authority’s (CEA) is set to achieve its $500 million of collateralized reinsurance protection upper target from the Ursa Re Ltd. (Series 2016-1) catastrophe bond transaction, but pricing has settled at the top end of guidance we're told.CEA's latest cat bond, Ursa Re 2016-1, launched earlier this month read the full article →

CEA’s Ursa Re 2016-1 catastrophe bond could grow to $500m

According to sources the California Earthquake Authority's (CEA) latest catastrophe bond offering, the Ursa Re Ltd. (Series 2016-1) transaction, could be upsized to as large as $500 million in size with pricing moving towards the upper end of initial guidance.The Ursa Re 2016-1 cat bond launched earlier this month and read the full article →

Ursa Re 2016-1 cat bond seeks $300m of quake reinsurance for CEA

The California Earthquake Authority (CEA) is back with a $300 million Ursa Re Ltd. (Series 2016-1) catastrophe bond offering, as the provider of earthquake insurance cover in California seeks to continue its relationship with the capital markets through a new transaction.The CEA has been utilising the catastrophe bond market as read the full article →

CEA policy uptake rises, more risk transfer will be required: Pomeroy

The California Earthquake Association (CEA), the non-profit provider of over 76% of residential earthquake insurance policies in California, has reported a significant increase in policy uptake in 2016, which the CEO told Artemis will mean more risk transfer will likely be required.California, as one of the most earthquake prone regions read the full article →

CEA reinsurance program nears $4.5bn, but cat bonds hard to justify

The California Earthquake Authority (CEA) is set to increase the size of its reinsurance program with an April placement set to take its total risk transfer to $4.5 billion, but ILS investors have not seen a new catastrophe bond as currently they are hard to justify due to the cost.The read the full article →