Swiss Re Capital Markets offers $ 775 million Cat bonds for the California Earthquake Authority

Swiss Re Capital Markets has successfully structured and issued $ 775 million in insurance-related securities by Ursa Re II Ltd. To be used to protect the California Earthquake Authority.

CEA reports over one million California document holders. Policy holders include homeowners, mobile home owners, condominium owners, and tenants. CEA now announces more than $ 2.5 billion in outstanding bonds.

CEA entered into two reinsurance agreements with Swiss Re, which ultimately transferred the risks through the two reinsurance agreements to Ursa Re II Ltd. To receive protection on an annual total, on a compensation basis, against earthquake damage to California homes.

Swiss Re Capital Markets underwent the transaction through two classes of risky variable rate banknotes issued by Ursa Re II Ltd. , Which is an exempt company from Bermuda.

Ursa Re II Ltd. Its obligations under the repurchase agreements by issuing AA bonds worth $ 425 million and Class D bonds worth $ 350 million to investors. Both denominations of banknotes have three loss occurrence periods beginning on October 17, 2020 and ending on November 30, 2023.

Swiss Re Capital Markets acted as sole structuring agent and sole ledger manager.

Related:

Was this article valuable?

Yes No

Here are more articles you may enjoy.

The most important insurance news, in your inbox every business day.

Get the trusted newsletter from the insurance industry

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos