Farmers safe secured cat reinsurance – business insurance

Farmers Insurance Group companies secured $ 160 million in secured reinsurance for US-named storms, earthquakes, and severe weather through Topanga Re Ltd., issued by Swiss Re Capital Markets, the unit of Swiss Re Ltd. Fire.

The bonds offer 100 million investors, according to Jean-Louis Monnier, head of retro and ILS structuring at Alternative Capital Partners at Swiss Re.

Farmers said in its own statement that it was "pleased" to have access to capital markets through the transaction, which "is designed to be integrated into Farmers' existing traditional catastrophe reinsurance program".

Swiss Re Capital Markets and TigerRisk Capital Markets & Advisory acted as joint structuring officers. Swiss Re Capital Markets acted as sole bookrunner and TigerRisk Capital Markets & Advisory acted as co-manager, the Farmers statement said.

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