Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Merna Reinsurance III Ltd.

The Artemis Catastrophe Bond and Insurance-linked Securities Deal Directory aims to provide a one-stop resource for information on every cat bond and ILS transaction we hold information on. The content of this Deal Directory is provided as is and there will be some omissions. Help us to keep these cat bond and ILS transaction summaries up to date by contacting us if you see an error or omission that you can correct.


Merna Reinsurance III Ltd. – At a glance:

  • Issuer: Merna Reinsurance III Ltd.
  • Cedent / sponsor: State Farm
  • Placement / structuring agent/s: ?
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: U.S. / Canada hurricane, earthquake, severe thunderstorm, winter storm, wildfire
  • Size: $250m
  • Trigger type: Indemnity
  • Ratings: ?
  • Date of issue: Jun 2010
  • news coverage: Articles discussing Merna Reinsurance III Ltd. from

Merna Reinsurance III Ltd. – Full details:

$250m Merna Reinsurance Re Ltd. provides State Farm Mutual Automobile Insurance Company with reinsurance protection against a number of U.S. & Canadian risks. These include U.S. hurricane, earthquake, severe thunderstorm, winter storm and wildfire.

We believe this deal was not marketed to ILS investors, rather investors were arranged in advance and the notes were privately placed directly with them.

The deal utilised an indemnity trigger and was issued as a single tranche of notes.

Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Print Friendly, PDF & Email

« Go back to the Catastrophe Bond Deal Directory

Help us keep this valuable resource up to date. If you have information on a catastrophe bond or insurance-linked security deal we have not covered or can see something that we should change, please contact us to let us know.