The California Earthquake Authority (CEA) has renewed $3.73 billion of reinsurance in 2024 so far, having secured almost $1.2 billion in new protection at the April 1st renewals.
At the end of 2023, the earthquake insurer had $9.1 billion of protection in-force from its reinsurance and cat bonds.
Following the January 1st reinsurance renewal this year, around $2.2 billion of the CEA’s reinsurance contracts in-force were due to expire. These were seemingly more than renewed, with over $2.57 billion of reinsurance secured at 1/1.
