CEA REINSURANCE PROGRAMME GROWS TO RECORD $8.331BN

The state-administered earthquake insurer California Earthquake Authority (CEA increased the size of its reinsurance programme to a record $8.331bn at January 1 renewals, Artemis.bm has reported. The CEA’s risk-transfer programme stood at $8.137bn at the end of the year, with $2.28bn of in-force cover expiring at that time. The agency reportedly purchased $2.48bn of new limit at renewals, thereby raising the size of the programme by $200m. April 1 renewals are likely to have been active for the CEA as well, as more than $1.132 of in-force reinsurance was scheduled to expire at the end of March.