State Farm gets $500m reinsurance with new Merna Re II cat bonds
US primary insurance giant State Farm has returned to the catastrophe bond market and secured $500 million of US property catastrophe reinsurance protection from two series of Merna Re II cat bond notes, with a $200 million Merna Re II Ltd. (Series 2022-2) and $300 million Merna Re II Ltd. (Series 2022-3) issuances. State Farm continues to put […]
China’s yuan and the Japanese yen “most vulnerable to climate change” – Barclays
China’s yuan and the Japanese yen are the currencies most vulnerable to climate change, according to a new report by Barclays. The bank looked at the effects of climate change on exchange rates, saying rising temperatures and associated economic costs could tank the value of the Chinese yuan and Japanese yen over 50% by 2070. The […]
