CEA saves after multi-year renewals

The California Earthquake Authority (CEA) managed to expand its
traditional reinsurance programme by more than $400mn to $4.51bn in
the January and April renewals for less premium than it paid in
2015.The organisation was able to secure significant savings at the
renewals, as some multi-year deals written back in 2014 expired,
sister publication Trading Risk reported today (27 June).Overall, the CEA will pay $182.5mn in premium this year for the
$4.51bn package, compared to the $189.1mn budgeted