Swiss Re Capital Markets structures and places USD 775 million catastrophe bond for California Earthquake Authority

Earthquake

Swiss Re Capital Markets successfully structured and placed the issuance of USD 775 million of insurance-linked securities (ILS) by Ursa Re II Ltd, to be used for the protection of the California Earthquake Authority (CEA).

Swiss Re Capital Markets successfully structured and placed the issuance of USD 775 million of insurance-linked securities (ILS) by Ursa Re II Ltd, to be used for the protection of the California Earthquake Authority (CEA).

CEA protects more than one million policyholders in California against earthquakes and this transaction, the largest catastrophe bond issuance of 2020 and the largest transformer structure in the history of the ILS market, helps underpin its claims paying ability.

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