The California Earthquake Authority (CEA) has increased the targeted amount of multi-year collateralized California earthquake reinsurance protection it seeks from capital market investors through its new Ursa Re Ltd. (Series 2025-1) issuance, with now up to $375 million of coverage being sought, while the price guidance has been fixed at 7.5%, Artemis has learned.
The CEA recently returned to the catastrophe bond market with an initial target to secure $200 million or more in multi-year collateralized California earthquake reinsurance protection, from what will become the 21st cat bond to be sponsored by the CEA that we have listed in our Deal Directory.
Now, we’re told that an increase to the target size for this new catastrophe bond has occurred, with now $325 million to $375 million of multi-year collateralized California earthquake reinsurance protection being sought by the CEA.
FULL ORIGINAL PUBLICATION HERE
