$925m of earthquake notes list on BSX
A total of $925 million in securities on behalf of the California Earthquake Authority were yesterday listed with the Bermuda Stock Exchange.
The two securities were issued by Ursa Re and placed by Swiss Re Capital Markets, which acted as structuring agent and bookrunner, with Aon Securities as joint bookrunner.
The at-risk variable rate notes, one of $500 million and one of $425 million, will collateralise reinsurance agreements that will provide the California authority with a three-year source of reinsurance from capital markets to protect it against losses due to earthquakes.
Warning over mobile phone charges
Premier targeted by fake news website
MarketPlace acts to stop carts straying
OBA had chance to discuss race when in power
Hunt for new Cabinet Secretary
Hotel evacuated after water pipe bursts
Bermuda pays tribute to Regis
Sugar taxes come not as advertised
Azura hotel will welcome guests in 2019
Abandoned boat is a blot on the landscape
Outlet for Bermudian-made products
Internet danger is ‘uncharted territory’
Minors cheered on by his biggest supporters
What will change under the new US tax law
So much more than just horseplay
Take Our Poll