Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

19 May 2012

CEA eyes up return to cat bond market

8 April 2011

The California Earthquake Authority (CEA) is working to source $150mn of cat bond capacity from the capital markets after a 15-month hiatus from the ILS sector.

The quasi-governmental residential earthquake insurer is looking to buy multi-year, collateralised reinsurance cover that a reinsurer will then transfer to the capital markets in the form of a cat bond, CEA board meeting minutes show.

The board approved staff to continue negotiating the deal at the February meeting, the CEA told Trading Risk. The...

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