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Pricing for California Earthquake Authority cat bond narrows

The coupon guidance for California Earthquake Authority's Ursa Re Ltd. series 2018-1 catastrophe bond has tightened to a range of 5% to 5.25% from 4.9% to 5.4%, Artemis reported.

The nonprofit residential earthquake insurance provider is seeking to secure between $200 million and $250 million of reinsurance protection through the issuance.