CEA completes its largest ILS yet

Category: ABS Insurance-linked securities

Previous Story       Next Story

The California Earthquake Authority (CEA) has completed its largest ever ILS (see SCI 22 May). The US$925m Ursa Re 2017-1 transaction, structured by Swiss Re, is one of the largest indemnity, annual aggregate catastrophe bonds and covers California earthquake risk.

Swiss Re underwrote the transaction through two classes of principal-at-risk variable rate notes issued by Ursa Re.

Already registered?

Not yet registered? Join today to access SCI Content.