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Agricultural companies ensure reinsurance for cats with security



Companies made up of Farmers Insurance Group secured $ 160 million in reinsurance with security for storms, earthquakes, severe weather and fire through Topanga Re Ltd., issued by Swiss Re Capital Markets, Swiss Re Ltd's unit said on Thursday. [19659002]] Banknotes provide $ 100 million in protection per event over a four-year risk period and $ 60 million in annual total protection over a two-year risk period, both on a compensation basis, and include a four-year subrogation extension – a draw for investors, according to Jean-Louis Monnier, head of retro- and ILS structuring at Swiss Re & # 39 ;s Alternative Capital Partners.

Farmers said in its own statement that it was "satisfied" to have access to the capital markets through the transaction, which is "designed to be integrated into Farmer & # 39 ;s existing traditional disaster reinsurance programs. ”

Swiss Re Capital Markets and TigerRisk Capital Markets & Advisory acted as joint structuring agents. wiss Re Capital Markets acted as sole bookrunner and TigerRisk Capital Markets & Advisory as co-manager, said Farmer's statement.

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