CEA adds to mid-year reinsurance placements

The California Earthquake Authority (CEA) added $75mn of
reinsurance cover to its traditional programme during renewals in
May and June.
One of the maturing multi-year contracts was transformed into an
annual deal, although another was extended to a two-year
duration.
The May and June renewals took the CEA's total traditional
reinsurance programme to $3.93bn as of 31 July, up from $3.86bn at
the end of April, according to agenda documents for a September
board meeting held this week.
In the...