CEA seeks new Sutter Re cat bond targeting $300mn
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CEA seeks new Sutter Re cat bond targeting $300mn

Abbie Day
18 May 2023
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The California Earthquake Authority (CEA) is seeking $300mn of catastrophe bond limit across two tranches, comprising $175mn of Class B and $125mn of Class E notes, with a new Sutter Re issuance.

The coverage is triggered on an indemnity, annual aggregate basis for earthquake in the state of California.

Pricing guidance on the Class B notes is 675-725 basis points (bps), giving a midpoint multiplier of 2x on the one-year expected loss...

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Hannover Re Catastrophe bonds News
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