The California Earthquake Authority (CEA) has launched its
latest $150mn Embarcadero Re cat bond in the second transaction to
come to market during the 2012 North Atlantic hurricane season.
The CEA is seeking $150mn of indemnity cover against California quake losses on an aggregate annual basis for three years. This is in line with the bond's two predecessors issued in February and August 2011, which each closed at $150mn.
After a quiet patch in the ILS issuance market since the...
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