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Farmers lifts Topanga Re cat bond target to $150m – 160m

December 7, 2021

Farmers Insurance Group is now targeting up to $160 million of collateralized reinsurance protection from its first catastrophe bond, as the Topanga Re Ltd. (Series 2021-1) issuance grew during marketing, while its pricing was fixed at the upper-end of guidance.

Farmers Insurance, the US insurer that also operates across a number of reciprocal insurer brands and has Zurich Insurance Group as a parent, entered the catastrophe bond market for the first time recently, seeking at least $100 million of reinsurance through the Topanga Re cat bond.

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