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.
FULL ORIGINAL PUBLICATION HERE
