$250m cat bond issued
Created: Sep 16, 2015 08:00 AM
The California Earthquake Authority, through its Bermuda-based special purpose insurer, Ursa Re Ltd, has issued a $250 million cat bond to cover earthquake risk in California. The Series 2015-1 Class B notes will run for three years and become due on September 21, 2018. The cat bond has been admitted to the Bermuda Stock Exchange’s official list.