Appleby acted as Bermuda counsel on the California Earthquake Authority’s $425 million Sutter Re catastrophe bond issuance. A spokesperson said, “The California Earthquake Authority [CEA] has secured USD425 million of fully collateralized earthquake reinsurance protection from the capital markets through its Sutter Re Ltd. [Series 2026-1] catastrophe bond issuance. “The Sutter Re Series 2026-1 issuance …