Catastrophe bonds and insurance-linked securities news

Slide Insurance Company expects to have around $3.5 billion of catastrophe reinsurance limit in-force for a first event in 2026, an increase of roughly $1 billion and CEO Bruce Lucas has said that risk-adjusted rate decreases for its renewal are “substantial” so far.

Palomar Insurance Holdings has now successfully priced its seventh catastrophe bond sponsorship, securing $410 million of capital markets backed California earthquake and Hawaii named storm reinsurance from its new Torrey Pines Re Ltd. (Series 2026-1) issuance, Artemis can report.

Convex Group, the expansive global specialty insurance and reinsurance underwriter, has now successfully secured $175 million of multi-peril retrocessional protection from its new and fourth Hypatia Ltd. (Series 2026-1) catastrophe bond sponsorship, pricing the coverage at the mid-point of guidance, Artemis understands.

US military mutual insurer USAA has now set its sights on the upper-end issuance size of $825 million of reinsurance from its new Residential Reinsurance 2026 Limited (Series 2026-1) catastrophe bond sponsorship, while the company has made further adjustments to the price guidance for two of the three tranches of notes on offer, Artemis has […]

Mapfre Re, the Spanish global reinsurance company, is now aiming for reduced pricing for its latest catastrophe bond sponsorship, with the still $200 million Recoletos Re DAC (Series 2026-1) US named storm issuance cat bond transaction now seeing its price target reduced to the low-end of guidance, Artemis can report.

US primary insurer Allstate added more protection to its per-occurrence Nationwide Excess Catastrophe Reinsurance Program, lifting the top of the tower a new high of $11.5 billion at its recent renewal, while also securing a new $1 billion aggregate excess reinsurance arrangement as well.

The Government of Jamaica is back in the catastrophe bond market again with the support of the World Bank, targeting $150 million of parametric named storm and hurricane protection from an IBRD CAR Jamaica 2026 issuance, designed to replace its coverage that was triggered by hurricane Melissa, Artemis has learned from sources.

Palomar Insurance Holdings has raised the target to as much as $410 million of capital markets backed California earthquake and Hawaii named storm reinsurance from its new Torrey Pines Re Ltd. (Series 2026-1) catastrophe bond issuance, sources have told Artemis.

Convex Group, the expansive global specialty insurance and reinsurance underwriter, has reduced its target for the Hypatia Ltd. (Series 2026-1) catastrophe bond transaction to between $150 million and $175 million of retrocession, while the company aims to secure mid-guidance pricing for the tranche of notes on offer, this publication has learned.

The Government of the United Kingdom through HM Treasury has now published its response to the July 2025 consultation on a more flexible and extended risk transformation regime, saying it will pass reforms through legislature to promote insurance-linked securities (ILS) innovation in the country and facilitate a wider range of transaction structures.