Farmers Insurance Exchange closes on $160mn catastrophe bond
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Farmers Insurance Exchange closes on $160mn catastrophe bond

Eileen AJ Connelly
December 23, 2021
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Farmers Insurance Exchange said it has closed its first cat bond, a two-tranche Topanga Re deal that provides indemnity protection against US named storms, earthquakes, severe weather and fire and included an innovative subrogation extension feature.

The first tranche was $100 million of Series 2021-1 Class A Notes offering four years of per-occurrence protection. The second, $60 million of Series 2021-1 Class B Notes.

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Eileen AJ Connelly
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