Catastrophe bonds and insurance-linked securities news

Global reinsurance firm Swiss Re is now targeting up to $150 million of aggregate and subsequent event retrocession covering North American peak perils from its new Matterhorn Re Ltd. (Series 2026-1) catastrophe bond, while price guidance for each of three tranches of notes have been raised to the top-end of initial ranges, Artemis can report.

As the catastrophe bond market continues to expand, these particular financial instruments continue to offer a sustainable opportunity for investors, while interest in private insurance-linked securities (ILS) is increasing as investors seek to further diversify within the asset class, according to Chris McAvoy, Head of alternatives research at JANA Investment Advisers Pty Limited.

Selective Insurance Group added $100 million to the top-layer of its catastrophe reinsurance tower at the January 1 2026 renewals, which lifted the top of the tower to cover up to $1.5 billion of losses, while its management said the renewal came with meaningful price decreases.

American Integrity Insurance Company has returned to the catastrophe bond market, with an initial target to secure at least $175 million of fully-collateralized US named storm reinsurance for losses across southeastern states, through an Integrity Re III Ltd. (Series 2026-1) issuance, Artemis has learned.

GeoVera Nova insurance entities have now secured the targeted $350 million of US earthquake reinsurance protection from the new Veraison Re Ltd. (Series 2026-1) catastrophe bond at slightly lower pricing than initially projected, Artemis has learned.

SageSure has adjusted the size target for its latest catastrophe bond with now between $645 million and $690 million of broad multi-peril reinsurance sought from the Gateway Re Ltd. (Series 2026-1) issuance, putting it still on track to become the largest in the Gateway series of deals so far, Artemis can report.

While the overall catastrophe bond market saw issuance rising around 40% year-on-year in 2025, broking group Aon saw its activity supporting issuance of new cat bonds rising by more than 50%, CEO Greg Case said today.

Following a record-breaking year for the catastrophe bond market, reinsurance broker Howden Re has outlined how these insurance-linked securities (ILS) instruments have remained in favour due to their liquidity and more standardised structure.

Reinsurance broker Gallagher Re has released the latest edition of its cyber rate index, indicating that an oversupply of capacity resulted in a cyber aggregate excess of loss (XOL) risk-adjusted rate (RAR) change of -32% at the January 1st, 2026 renewals.

Integral ILS Ltd., the specialist insurance-linked securities investment manager, has successfully upsized its debut catastrophe bond sponsorship by nearly 38%, to secure $275 million of US named storm retrocession from the Windrose Re Ltd. (Series 2026-1) deal that has now been priced, Artemis can report.