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CEA issues 2nd Embarcadero cat bond

13 February 2012

The California Earthquake Authority has issued a second $150m catastrophe bond through Embarcadero Re.

Read more: CEA California Earthquake Authority California USA North America Earthquake Cat Bond Catastrophe Bond ILS

A second tranche of $150m has been raised by the California Earthquake Authority in one of the first instances of Insurance-linked Securities (ILS) issuance of 2012.

The CEA launched the first earthquake-only cat bond without using a traditional reinsurer in August 2011, and has now moved to double its cover...