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California Earthquake Authority
The California Earthquake Authority was created by state legislation in 1996 as a publicly managed insurer. It offers residential earthquake coverage to...
California Earthquake Authority
The California Earthquake Authority was created by state legislation in 1996 as a publicly managed insurer. It offers residential earthquake coverage to California homeowners and is financed through premiums and reinsurance rather than taxpayer funds. Capital is deployed into a high-quality fixed-income portfolio consisting of U.S. Treasuries, Federal Agency securities and other instruments allowed under California Government Code § 16430. The portfolio stood at approximately $9.225B in the most recent internal valuation. The authority also oversees the Earthquake Loss Mitigation Fund, established in 2011, which has directed $5M toward the Earthquake Brace + Bolt program for seismic retrofits. The entity maintains one headquarters in Sacramento and participates in conferences on hazard mitigation, including the ACWA 2024 Spring Conference and Hazard Mitigation Summit 2024. It holds ownership interests in the California Wildfire Fund and the California Residential Mitigation Program through joint powers arrangements. Governance is structured through a statutory board that includes elected state officials, creating a direct link between insurance operations and public policy oversight.
General information
Firm type
Insurance
Year founded
1996
AUM
8525 (Altss estimate)
Location
Region
North America
Country
United States
City
Sacramento
Corporate office
400 Capitol Mall Suite 1200, Sacramento, CA 95814, United States
Principals
Tom Welsh
Chief Executive Officer
Gavin Newsom
Governor of California and voting member of the Governing Board
Ricardo Lara
California Insurance Commissioner and voting member of the Governing Board
Fiona Ma
California State Treasurer and voting member of the Governing Board
Sector focus
Frequently asked questions
Who runs investment decisions at California Earthquake Authority?
Tom Welsh serves as Chief Executive Officer. Investment activity is limited to fixed-income instruments permitted by California Government Code and is supported by Raymond James as investment consultant since 2020.
What asset classes does California Earthquake Authority hold?
The portfolio consists of U.S. Treasuries, Federal Agency securities and other high-grade fixed-income instruments. No equity, real estate or alternative allocations are disclosed.
Does California Earthquake Authority maintain separate mitigation vehicles?
Yes. The Earthquake Loss Mitigation Fund, established in 2011, funds seismic retrofits including the Earthquake Brace + Bolt program with $5M in estimated giving.
Which state officials sit on the Governing Board?
Voting members include Governor Gavin Newsom, Insurance Commissioner Ricardo Lara and State Treasurer Fiona Ma.
How is the California Earthquake Authority capitalized?
It is privately financed through insurance premiums and reinsurance arrangements. It does not receive ongoing state appropriations.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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