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

24 May 2013

Up-sized Embarcadero fills CEA’s $300mn limit for 2012

27 July 2012

It is unlikely any further Embarcadero Re California earthquake bonds will be issued this year following yesterday's closure of the latest bond in the series which raised $300mn of cover, Trading Risk understands.

During a 26 April meeting, the California Earthquake Authority (CEA) governing board had approved a total additional limit of $300mn in risk-transfer transactions from the date of the meeting up until the end of 2012.

This excludes the two $150mn Embarcadero Re bonds that were issued for...

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