wildfire cat bond


Sempra to secure minimum $180m size for SD Re wildfire cat bond

Electrical utility Sempra Energy looks set to secure its third slice of catastrophe bond backed wildfire insurance protection at the minimum targeted issuance size of $180 million, while pricing for its new SD Re Ltd. (Series 2021-1) transaction is on-track to settle at the mid-point of guidance. Sempra Enery returned to read the full article →

Sempra Energy returns for third and larger SD Re wildfire cat bond

Electrical utility Sempra Energy is back in the catastrophe bond market with what will be its third issuance and this time it is seeking a larger, perhaps $180 million or bigger, SD Re Ltd. (Series 2021-1) transaction. Sempra, a North American energy infrastructure company based in San Diego, California, first came read the full article →

LADWP gets $30m of wildfire cover from new Power Protective Re cat bond

California based utility the Los Angeles Department of Water and Power (LADWP) has finally secured $30 million of wildfire insurance cover from its second catastrophe bond issue, after the Power Protective Re Ltd. (Series 2021-1) deal was priced at the raised coupon level. The eventual and successful pricing of this second read the full article →

Pricing hiked for LADWP’s new Power Protective Re wildfire cat bond

Demonstrating that catastrophe bond funds and investors won't buy into risk at any cost, we're told that the second California wildfire cat bond from the Los Angeles Department of Water and Power (LADWP), the still unsized Power Protective Re Ltd. (Series 2021-1), has seen its price guidance rise considerably. The second read the full article →

Utility LADWP seeks second Power Protective Re wildfire cat bond

The Los Angeles Department of Water and Power (LADWP) has returned to the catastrophe bond market in search of its second cat bond to provide it with wildfire insurance protection, with an as yet unsized Power Protective Re Ltd. (Series 2021-1) being offered to insurance-linked securities (ILS) funds and investors. The read the full article →

SoCal Edison approved to use cat bonds to transfer wildfire risk

California electrical utility Southern California Edison has been approved to buy up to $1 billion of liability insurance protection for third-party wildfire-related claims, with catastrophe bonds approved as a structure it can use to secure some of the necessary limit. Southern California Edison (SoCal Edison) is one of the electrical utilities read the full article →

California’s Caldor wildfire behaviour said extreme, to drive rising losses

The Caldor Fire in California's Eldorado County exploded yesterday, with extreme wildfire behaviour seen to drive the fire's burn area up by more than 360% to 30,000 acres, while a number of northern California towns saw structure loss that has yet to be counted. The Caldor Fire expanded significantly at a read the full article →

California’s Dixie fire spreads again, over 1,000 structures destroyed

The Dixie wildfire that is burning in California has now burned almost half a million acres and continues to put significant property value at-risk, with now 1,027 structures reported as having been destroyed by the fire. The Dixie Fire ignited above the Cresta Dam in the Feather River Canyon on July read the full article →

California Wildfire Fund balks at reinsurance pricing again

For the second year running the California Wildfire Fund has shied away from buying reinsurance or any form of risk transfer, saying that current market pricing means it isn't economically worthwhile to extend the Fund's durability. However, importantly, the California Wildfire Fund acknowledges that risk transfer remains in its sights, saying read the full article →

Ecological forestry + parametric risk transfer can reduce wildfire losses

A new report on wildfire resilience insurance suggests that in order to help make wildfire insurance more accessible and affordable, a combined ecological forestry approach alongside parametric risk transfer could reduce wildfire losses for the insurance and reinsurance sector. As a result, this could help to drive wildfire insurance premiums lower, read the full article →