wildfire cat bond


First parametric wildfire cat bond Power Protective Re prices up 9%

The first ever parametric solely wildfire exposed catastrophe bond to hit the market, the $50 million Power Protective Re Ltd. (Series 2020-1)  transaction being sponsored on behalf of a municipal water utility operating in the Los Angeles area, has seen its pricing move up by around 9% before it closed. The read the full article →

LA municipal water utility seeks wildfire cover with Power Protective Re cat bond

An intriguing new catastrophe bond transaction has launched to the market according to our sources, with the $50 million Power Protective Re Ltd. (Series 2020-1)  transaction being sponsored on behalf of a municipal water utility operating in the Los Angeles area of California that is seeking wildfire insurance protection. Power Protective read the full article →

California Wildfire Fund shies away from reinsurance pricing at renewal

Quotes received from the reinsurance market at the mid-year renewals did not deliver on the pricing and structure that was sought for the California Wildfire Fund, resulting in the purchase of risk transfer not being completed. As we explained back at the end of April, the California Wildfire Fund had engaged read the full article →

First pure wildfire cat bond in two years upsized & priced within guidance

The first California wildfire catastrophe bond transaction to be issued since the severe California season of 2018 has successfully been upsized, with utility Sempra Energy's SD Re Ltd. (Series 2020-1) deal now set for $90 million. Not only has the first pure wildfire cat bond in almost two years increased in read the full article →

Sempra Energy’s SD Re 2020-1 wildfire cat bond may upsize to $90m

Electrical utility Sempra Energy is seeking to upsize its second catastrophe bond, with the SD Re Ltd. (Series 2020-1) transaction now targeting a $90 million source of California wildfire insurance protection from the capital markets for the company. Sempra Energy returned to the catastrophe bond market in June, with an SD read the full article →

Sempra Energy seeks $75m SD Re 2020-1 cat bond to top up wildfire insurance

Electrical utility Sempra Energy has returned to the catastrophe bond market with a $75 million SD Re Ltd. (Series 2020-1) transaction, as it seeks to extend the California wildfire insurance protection it receives from capital markets investors. This is the second wildfire catastrophe bond to be issued for Sempra Energy, following read the full article →

California Wildfire Fund seeks reinsurance renewal, program expansion

The California Wildfire Fund, which was established last year to back some of the wildfire liabilities related to utilities operating in the state, will go back to the reinsurance market to seek a renewal and an expansion of its first program for 2020 and beyond. The California Wildfire Fund was set read the full article →

Guy Carpenter wins California Wildfire Fund reinsurance program

Reinsurance broker and advisor Guy Carpenter has been selected as the sole reinsurance and risk transfer intermediary for the recently established California Wildfire Fund, which is administered by the California Earthquake Authority (CEA). As we previously reported, the California Earthquake Authority (CEA) has gained an expanded remit by taking on administrative read the full article →

California wildfire reinsurance may rise 30%-70% as market smarts from losses: S&P

Rates for renewals of California wildfire exposed reinsurance programs or coverage could see increases of as high as 30% to 70%, as both traditional and alternative markets smart after two heavy loss years, according to S&P Global Ratings. Insured losses across the 2017 and 2018 California wildfire seasons reached around $33 read the full article →

CEA’s Wildfire Fund role includes reinsurance & risk transfer set-up

The California Earthquake Authority (CEA) will look to set up a reinsurance and risk transfer program for California’s recently approved $21 billion wildfire insurance fund, we can now confirm. As we reported earlier this month, the California Earthquake Authority (CEA) is gaining an expanded remit, as it is set to take read the full article →