Archive for June, 2026

Everest Group has fixed its target on an upsized $630 million of multi-peril collateralized North America focused retrocession from its new Kilimanjaro III Re Ltd. (Series 2026-1) and Kilimanjaro III Re Ltd. (Series 2026-2) catastrophe bonds, while the price guidance has fallen for a second time, Artemis has learned.

Ariel Sociedade Seguradora de Propósito Específico S.A. (Ariel SSPE), the insurance-linked securities (ILS) platform in Brazil, has announced that it has appointed Laercio Vicente to its executive team, who brings direct experience in structuring Brazil’s Letras de Risco de Seguro (LRS, Insurance Risk Letters), the country’s unique ILS instrument.

Porch Group, the US homeowners specialist insurer, has entered the catastrophe bond market for the first time, aiming to secure $100 million in multi-peril collateralized catastrophe reinsurance through a debut Harbor Crest Re Ltd. (Series 2026-1) issuance, Artemis has learned.

Mercury General Corporation (Mercury Insurance) has achieved a strong pricing result in the catastrophe bond market, as its new $150 million Luca Re Ltd. (Series 2026-1) issuance has now been priced roughly 19% below the initial mid-point of spread guidance.

AXA XL, the global specialty insurance and reinsurance arm of the AXA Group, has been back in the catastrophe bond market in recent weeks, securing $67.5 million of retrocessional protection from a now-priced Galileo Re Ltd. (Series 2026-1) issuance that we have been told was more privately offered than its previous deals.

As our next catastrophe bond and insurance-linked securities (ILS) market conference Artemis London 2026 moves closer, we’re delighted to announce four more expert speakers. Join us in London on September 1st for a full-day of in-depth discussion about the ILS market and valuable networking, register to attend the conference here.

Everest Group is now targeting as much as an upsized $675 million of multi-peril collateralized North America focused retrocession from its new Kilimanjaro III Re Ltd. (Series 2026-1) and Kilimanjaro III Re Ltd. (Series 2026-2) catastrophe bond transactions, Artemis can report.

German insurer Gothaer Allgemeine Versicherungs AG is now targeting a slight reduction in pricing for its debut catastrophe bond, while the goal remains to secure €100 million of reinsurance limit to cover flood events in Germany with the Yardstick Re DAC (Series 2026-1) issuance, Artemis understands.

While catastrophe bond yields have declined from the highs seen between 2022 and 2024, analysts at Morningstar DBRS expect demand for the asset class to remain strong. Saying that, despite recent yield compression, the market continues to offer equity-like returns that are largely uncorrelated to traditional stock and bond markets.

Florida’s Citizens Property Insurance Corporation has now finalised its reinsurance risk transfer tower of almost $2.82 billion for 2026, securing $691 million of traditional reinsurance at the June 1 renewals, to add to its $2.125 billion of outstanding catastrophe bond protection.