The Governing Board of the California Earthquake Authority (CEA) approved a revision to its guidelines for engaging in catastrophe bond risk transfer to the capital markets this week, while also noting a successful reinsurance renewal at April 1st, saying it secured favourable pricing and limit.
The California Earthquake Authority (CEA) is a significant buyer of reinsurance limit still, even after its risk transfer tower has shrunk over the last year.
The CEA’s risk transfer tower had included just over $9.15 billion of limit as recently as following the June 2024 reinsurance renewal season, but has been steadily shrinking ever since.
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