Swiss Re Capital Markets placed an issuance of $925 million to be used for the protection of the California Earthquake Authority (CEA).
Swiss Re Capital Markets underwrote the transaction through two classes of principal-at-risk variable rate notes issued by Ursa Re Ltd., each as amended.
The transaction is one of the largest annual catastrophe bonds, and the CEA is well prepared to handle the economic consequences of potential earthquakes.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
