2010 cat bond season gathers pace as prices fall
A number of insurance-linked securities (ILS) transactions expected to provide (re)insurers with more than $1bn of cover for 2010 and beyond are currently being marketed to potential investors, at the same time as the price for capital markets capacity continues to fall.
State Farm, the largest homeowners and auto insurer in the US, is preparing a partial renewal of its giant Merna Re transaction, which securitised $1.1bn of insurance exposures in 2007. Merna Re II is initially planned to provide...
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