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

19 May 2012

California quake insurer gets green light for $150mn cat bond

6 July 2011

The California Earthquake Authority (CEA) board has approved a $150mn single peril cat bond to be issued via a Bermudian reinsurer, Trading Risk can reveal.

The $150mn three-year cat bond cover was unanimously approved by the board on 30 June and could be in place by 1 August, a CEA spokesman told Trading Risk.

Under the approved structure, the CEA will not sponsor the cat bond itself but will purchase cover from an un-named Bermudian reinsurer that will in turn...

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