CEA acquired a $ 215 million bond from Ursa Re cat at an 11% discount.

The California Seismological Authority (CEA) secured its first catastrophic bond deal in 2021 at the double target of $ 215 million, while the Ursa Re II Ltd. disaster bond was priced. (Series 2021-1) is already at minimal cuts. Coupon Guidelines: Prices have moved significantly, again reflecting high levels of investor appetite in the Insurance Linked Securities (ILS) market at this time, particularly for catastrophe bonds sponsored by recognized and trusted parties.

CEA has now secured $ 215 million in fully guaranteed earthquake reinsurance protection in California with the new issue, which will raise the disaster insurance bond coverage in effect for earthquake insurers to $ 2.34 billion when this deal is completed in early March.

This new Ursa Re II 2021-1 disaster relief bond was launched from CEA to investors a few weeks ago, and its goal at the time was to secure at least $ 150 million in insurance company’s guaranteed earthquake reinsurance protection.

The market was responsive to the issue and shortly after the target was raised, the bond price is expected to stabilize somewhere around $ 215 million.

Now that the magnified target is secured, Ursa Re II Ltd. One slide of 2021-1 F Series banknote worth $ 215 million, which is sold to third-party ILS investors and funds.

The proceeds from the sale will be used to secure a basic earthquake reinsurance agreement between Ursa Re II Ltd and the reinsurer Swiss Re, which in turn will enter into a reinsurance agreement with CEA.

The memos would provide CEA with a $ 215 million source of earthquake reinsurance protection in California over a period of approximately three years and nine months, while providing cover on an annual gross and compensation payment basis.

A single chip F denomination of the Ursa Re II 2021-1 bond issue, which has a projected initial loss of 3.74%, was initially offered to ILS investors with price guidance in the range from 6.75% to 7.25%.

The strong investor response helped lower the price guidance, as the coupon range fell to 6.25% to 6.75%, thus lower than the original spread guidance.

Ultimately, CEA secured $ 215 million in reinsurance protection with a coupon of 6.25%, so the lower bound for the reduced price directive range.

This represents a drop of approximately 11% in prices from the midpoint of the initial guidance point.

As we indicated, once this deal is settled, the California Seismological Authority (CEA) will receive $ 2.34 billion in disaster-backed bonds, multi-year earthquake protection reinsurance.

This is below the highest point in the cat bond program, so it is entirely possible that we will see CEA again in the market later this year as reinsurance needs continue to expand.

You can read all about the Ursa Re II Ltd. Edition. New (Series 2021-1) disaster bonds from the California Earthquake Authority (CEA) and all other cat bonds issued in the Artemis Deal Guide.

.

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

Picture Credit!