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

24 May 2013

CEA’s Embarcadero Re doubles in size to $300mn

26 July 2012

The third Embarcadero Re California earthquake bond has closed, raising $300mn of reinsurance cover for the California Earthquake Authority.

The deal was placed by Deutsche Bank Securities, adding to the two $150mn deals that closed in August 2011 and February 2012.

The bond will pay an insurance-related coupon of 5 percent above benchmark Treasury rates for risk with an expected loss of 0.75 percent. This came in at the mid-range of guidance, giving an indication that rates may not have...

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