Three Bermuda-based structures were used for the record issuance of catastrophe bonds
State Farm's $1.55bn Merna Re cat bond used 3 SPI's | | | State Farm sponsored record $1.55bn Merna Re cat bond using multiple Bermuda SPI's  State Farm sponsored its recent record sized $1.55 billion visit to the catastrophe bond market using multiple Bermuda-based special purpose insurers (SPI), Artemis has now learned, with the Merna Re (Series 2025) issuance coming to market through longer-standing Merna Re II Ltd., as well as new Merna Re Companywide Ltd. and Merna Re Enterprise Ltd. entities. State Farm put to use the two new Bermuda-based structures for its latest visit to the catastrophe bond market. Issuance of all four series settled on May 21st and we understand they cover a variety of US weather and catastrophe perils, including some providing peak peril coverage and some that include coverage for what may be termed secondary perils. Read the full story. Other articles: | | | | | | Please share this with colleagues and friends if you think they would like to receive it.
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