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CEA reinsurance program grows, cat bonds now 25%. Targets $2.2bn Jan renewal

The California Earthquake Authority (CEA) increased the size of its overall risk transfer and reinsurance program up to November 1st, hitting that date with $9.26 billion in-force, as part of which the CEA’s catastrophe bonds had increased their share.

Of the $9.26 billion of reinsurance and risk transfer in-force at November 1st 2023, the CEA’s tower consisted of almost $2.4 billion of catastrophe bonds, with the remaining $6.87 billion made up of traditional and collateralized reinsurance contracts.

At that time, cat bonds made up roughly 26% of the reinsurance program for the CEA, an increase from the 24% they contributed to the tower when we last reported on it at the end of August 2023.


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