ILS for Disaster Risk Finance, ILS for investors, ILS for risk transfer

Cat bonds move up to contribute 32% of CEA’s smaller still $7.72bn reinsurance tower

March 25, 2025

As the California Earthquake Authority (CEA) risk transfer needs have been adjusting and its reinsurance tower shrinking, catastrophe bonds now make up almost 32% of the total as of February 28th 2025.

The CEA’s risk transfer tower had sat at just over $9.15 billion of limit as recently as following the June 2024 reinsurance renewal season, but has been steadily shrinking ever since.

The CEA’s risk transfer tower, made up of traditional and collateralized reinsurance as well as cat bonds had totalled $7.99 billion as of Nov 1st 2024.

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