CEA Prices $425 Million Sutter Re Cat Bond as Earthquake Exposures Rise to $656.3 Billion
Updated
Updated · Artemis.bm · Jun 4
CEA Prices $425 Million Sutter Re Cat Bond as Earthquake Exposures Rise to $656.3 Billion
1 articles · Updated · Artemis.bm · Jun 4
Summary
$425 million of new Sutter Re 2026-1 coverage will replace a 2023 cat bond maturing in just over a week, keeping CEA’s catastrophe bond protection at $2.875 billion.
In-force earthquake exposures climbed to more than $656.3 billion by April 30 from over $653 billion at end-2025, pushing the authority’s total risk-transfer tower above $8.2 billion, up more than 5% year on year.
Traditional, collateralized and fronted reinsurance supplied nearly $5.4 billion of that limit, up from almost $5.04 billion at Dec. 31, while cat bonds accounted for 35% of the tower.
$880 million of CEA cat bond coverage expires at the end of November, after more treaty renewals through July and September, giving the insurer room to reshape its capital mix as pricing softens.