The California Earthquake Authority (CEA) has now priced its latest catastrophe bond issuance, successfully doubling the Ursa Re Ltd. (Series 2025-1) offering in size to provide it with $400 million in multi-year collateralized California earthquake reinsurance protection.
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.
As we reported in our first update on this new deal, the target issuance size was increased to between $325 million and $375 million, while at the same time, the price guidance was fixed at 7.5%.
FULL ORIGINAL PUBLICATION HERE
