surplus notes

Apollo Global Management, the giant investor, private equity specialist and owner of life and retirement reinsurance company Athene, has entered into a novel insurance-linked investment agreement with Reinsurance Group of America, funding a reinsurer subsidiary called Chesterfield Re to the tune of $500 million.

Farmers Insurance Exchange (Farmers) has successfully renewed its $500 million catastrophe contingent surplus loan note facility for the third time. The facility provides Farmers with an option to access the capital markets following a major catastrophe event.

The Farmers Exchanges, the third largest insurer of personal auto and homeowners insurance in the U.S., has announced the renewal of a $500m contingent capital facility designed to give them access to capital in the event of major catastrophe loss. Initially launched in 2007, the contingent capital facility gives the Farmers Exchange the ability to […]