Your search for “merna reinsurance”

When we said back in July that a Merna Reinsurance III Ltd. catastrophe bond issuance was likely, what we of course meant was that it had already been issued… It transpires that the formation of Merna Reinsurance III Ltd. as a licensed entity in Bermuda was for a very specific, single investor catastrophe bond issued […]

State Farm is planning a new catastrophe bond issue. Merna Re II Ltd. is designed to provide State Farm with protection against some of it’s earthquake risks in the U.S. The deals initial size is said to be $400m but people close to the deal believe it could almost double and actually come to market […]

State Farm’s catastrophe bond Merna Reinsurance Ltd. has had its ratings affirmed by Fitch Ratings on $1.2B of its notes and term-loans. The affirmation of ratings is due to the fact that the transaction only runs for another five months, being 80% complete, and that no insurance losses at all have been ceded to Merna […]

Merna Reinsurance Ltd. is an SPV (special purpose vehicle) set up in June 2007 for an alternative risk transfer deal for State Farm. The deal essentially transferred $4 billion of natural catastrophe risk from State Farm, the largest homeowners and auto insurer in the U.S., to investors, either as bonds or as loans. Fitch Ratings […]

Homes at risk of wildfire in the U.S. amount to a staggering reconstruction value of beyond $237 billion, demonstrating the potential exposure levels and also the opportunity for the insurance, reinsurance and capital markets.

The primary issuance catastrophe bond market sprung back to life this week as two new deals began marketing. We now have details on the first to share, a new transaction designed to support the North Carolina wind pools, the North Carolina Joint Underwriters Assn. (NCJUA) and the North Carolina Insurance Underwriters Assn. (NCIUA), with a […]

The Bermuda Stock Exchange (BSX) has grown the volume of insurance-linked listings on the exchange by more than a billion dollars over the last six months of 2012. When we last listed out the catastrophe bonds, insurance-linked securities and reinsurance-linked investment funds listed on the BSX in July the total was $4.688 billion. By the […]

Hurricane Sandy continues to bear down on the U.S. eastern seaboard with forecasters still predicting a convergence of three weather systems that could turn Sandy into a ‘perfect storm’ (or Frankenstorm if you prefer). Sandy is forecast to converge with a low pressure system moving in from the west and cold Arctic air coming from […]

Back in mid-September of 2011 the Bermuda Stock Exchange (BSX) had just taken the volume of insurance-linked securities and catastrophe bonds listed on the exchange to over the $2 billion mark for the first time, as we wrote here. By January of 2012 they broke that record and cleared $3 billion of ILS listings. Now […]

The Combine Re Ltd. catastrophe bond which is sponsored by Swiss Re America but combines two reinsured parties (Country Mutual Insurance Company and the North Carolina Farm Bureau’s mutual insurance arm) risks into a single cat bond transaction has completed successfully at its target of $200m. $150m of the notes, in two of the three […]