Andrew Creed, Group President and Group Chief Financial Officer of legacy acquirer RiverStone International, highlighted that as the legacy and run-off market continues to evolve, having insurance-linked securities (ILS) solutions readily available is becoming increasingly valuable for global operators.
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The ability of insurance-linked securities investments to deliver a differentiated source of returns compared to broader capital market instruments remains primary in the list of motivations for investing into the asset class, analysis from Gallagher Securities found.
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German insurer Gothaer Allgemeine Versicherungs AG has now secured its targeted €100 million of reinsurance limit to cover flood events in Germany through its debut catastrophe bond, as the Yardstick Re DAC (Series 2026-1) issuance has been priced below initial guidance, Artemis has learned.
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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.
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The $75 million Arthur Re Ltd. – Woody Re 2026-1 catastrophe bond issuance that is coming to market to provide industry-loss triggered multi-peril reinsurance to benefit the Fidelis Partnership linked Syndicate 3123 at Lloyd’s, is now targeted for lower pricing, Artemis can report.
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Florida’s Citizens Property Insurance Corporation once again benefited from meaningful ILS manager and capital markets support for its traditional reinsurance needs in 2026, with these third-party capital investors taking 52% of the placement, while Nephila Capital was the largest single participant.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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