Solidum sells $50mn cat bond from CEA line

Friday, 11. November 2011

Swiss-based ILS fund manager Solidum Partners will issue a new private cat bond off the back of its participation in the California Earthquake Authority (CEA)'s 2012 reinsurance programme, Trading Risk can reveal.

Solidum put down a $52.5mn line on the first part of the CEA's programme, most of which was backed by an institutional investor.

Solidum transformed the traditional reinsurance contract into note format and will seek to list the resulting Eiger 2011 securities, probably on the...

Trading Risk Article