CEA raises $925mn from Ursa Re

The California Earthquake Authority (CEA) has raised $925mn from
its Ursa Re 2017-1 cat bond, making it not only the
organisation's biggest cat bond issuance but also one of the
ILS market's largest ever deals.
The size of the bond almost doubled throughout the course of the
negotiations after being launched with a target size of $500mn, as
sister publication Trading Risk has
previously reported. It will cover California earthquake risk on an
indemnity, annual aggregate basis.
The bond was...