Citigroup's Agency and Trust Services business, has been named indenture trustee on the $150MM Embarcadero Reinsurance Ltd. catastrophe bond transaction with the California Earthquake Authority (CEA) as ceding insurer.

Embarcadero Re, a Bermuda-based special purpose reinsurance vehicle, will provide the CEA with multi-year, collateralized reinsurance protection against earthquake risk.

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