California quake insurer expanded January reinsurance placement

The California Earthquake Authority (CEA) expanded its maturing
reinsurance limit by about $300mn in January to help cover its
growing book, it is understood.
The organisation tested appetite across a $2.3bn stretch of
aggregate reinsurance at the January renewals, according to a
firm-order terms sheet obtained by The Insurance
Insider.
However, it is understood the CEA only partly filled the two
layers it put out for tender: a $1.0bn excess $3.9bn lower layer,
and a $1.3bn excess $5.7bn upper l