Your search for “merna reinsurance”

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.

The price guidance on U.S. primary insurer State Farm’s $300m Merna Re V Ltd. U.S. earthquake catastrophe bond has dropped to the low-end of the marketed range, Artemis understands, making it the lowest coupon for a U.S. quake cat bond ever.

U.S. primary insurer and regular insurance-linked securities sponsor State Farm is returning to the catastrophe bond market with its fifth Merna Re branded issuance, a $300m Merna Re V Ltd. U.S. earthquake cat bond.

U.S. primary insurer State Farm’s latest catastrophe bond has seemingly been successful and has upsized during the marketing phase and pricing has dropped to the lower end of the suggested range. Merna Re IV Ltd. sees sponsor State Farm seeking a new source of earthquake reinsurance protection from the capital markets via a cat bond […]

We now have some more details on the latest catastrophe bond to come to market which sees sponsor State Farm seeking a new source of earthquake reinsurance protection from the capital markets via a cat bond issuance. It’s the fourth time that State Farm has gone to the cat bond market for cover directly, although […]

Law firm Willkie Farr & Gallagher (WFG) have hired a team of partners and lawyers from rival Dewey & LeBoeuf who bring with them extensive experience in the insurance-linked securities, alternative risk transfer and reinsurance / capital markets convergence area. Dewey & LeBoeuf have been dogged by rumours of issues and departures from the firm […]

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 […]