Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

21 May 2012

State Farm to issue $700mn US quake notes

22 March 2010

State Farm is in the final stages of a $400mn-$700mn cat bond issuance that would partially replace the soon-to-mature Merna Re transaction, Trading Risk understands.

The US' largest homeowners and auto insurer will place the notes into the capital markets to cover the peril of US earthquake, excluding California, according to sources.
Aon Benfield is understood to be the arranger for the transaction.

The large placement of diversifying non-California earthquake risk comes amid predictions at the Securities Industry and Financial...

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