Merna Re II Ltd. (Series 2022-2)

The two recently issued Merna Re catastrophe bonds sponsored by US primary insurance giant State Farm both covered peak peril US hurricane risks, we understand, with one bond having a Florida focus and the other Texas.

US primary insurance giant State Farm has returned to the catastrophe bond market and secured $500 million of US property catastrophe reinsurance protection from two series of Merna Re II cat bond notes, with a $200 million Merna Re II Ltd. (Series 2022-2) and $300 million Merna Re II Ltd. (Series 2022-3) issuances.