It looks like we will see a third transaction from State Farm in the Merna Reinsurance series of catastrophe bond deals. Merna Re, the first deal was issued in June 2007 and Merna Re II was issued in April 2010. That sets the scene for a deal every three years as one transaction expires and […]
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State Farm has completed it’s latest catastrophe bond issue Merna Reinsurance II Ltd. The deal began being marketed at a value of $250m and completed at $350m. That’s well below the mooted $400m-$700m that the market was expecting but we believe that was wishful thinking due to the size of their previous Merna Re deal. […]
US primary insurance giant State Farm has again returned to the 144A catastrophe bond market for another slice of New Madrid earthquake reinsurance protection to sponsor its latest capital markets deal, a $350 million Merna Re II Ltd. (Series 2021-1) issuance.
U.S. primary insurance carrier State Farm has returned to the capital markets to source fully collateralised reinsurance again, sponsoring a new $250 million privately placed and issued Merna Re II Ltd. (Series 2020-1) catastrophe bond transaction.
U.S. primary insurance giant State Farm has once again privately syndicated and quietly issued its latest catastrophe bond, a $300 million Merna Re II Ltd. (Series 2019-1) securing the firm an expanded source of collateralized U.S. earthquake reinsurance protection.
U.S. primary insurer State Farm has been back in the catastrophe bond market in recent weeks, with a privately syndicated Merna Re Ltd. (Series 2018-1) cat bond transaction that successfully secured the firm a $300 million source of fully-collateralized U.S. earthquake reinsurance protection.
State Farm has again secured its latest catastrophe bond coverage through a privately placed issuance of a $300 million Merna Re Ltd. (Series 2017-1) transaction, securing a renewed source of earthquake reinsurance protection from the capital markets.
U.S. primary insurer State Farm has confirmed its commitment to sourcing reinsurance through the ILS market with a privately placed renewal of a maturing catastrophe in the form of a Merna Re Ltd. (Series 2016-1) transaction.
U.S. insurer State Farm’s latest catastrophe bond, the $300m Merna Re Ltd. (Series 2015-1), is set to price at the top end of initial guidance Artemis understands, as investors again showed they are not prepared to take on a risk at any price.
U.S. primary insurer State Farm is back in the catastrophe bond market looking to expand its capital markets backed New Madrid earthquake protection by sponsoring a $300m Merna Re Ltd. (Series 2015-1), which could become the lowest priced U.S. quake cat bond ever.