Catastrophe bonds and insurance-linked securities news

For insurance and reinsurance companies, the expansion of insurance-linked securities and the catastrophe bond market are viewed as credit positive by KBRA, with the rating agency explaining that the additional capacity the ILS market offers is increasingly important, supporting capital flexibility and protecting sector balance-sheets.

The Eclipse Re Ltd. transformer vehicle has issued its first listed private catastrophe bond notes of the year, with a $100 million Eclipse Re Ltd. (Series 2026-1A) becoming the largest cat bond lite of 2026 so far, Artemis has learned.

Our latest video features the opening panel discussion of the day at Artemis ILS NYC 2026, a session focused on the private insurance-linked securities marketplace, from our tenth catastrophe bond and insurance-linked securities (ILS) conference in the ILS NYC series, held on February 6th 2026 in New York.

The Andover Companies has now secured $250 million of collateralized catastrophe reinsurance from its new Locke Tavern Re Ltd. (Series 2026-1) catastrophe bond sponsorship, more than replacing the soon to mature protection from its 2023 deal, Artemis can report.

Plymouth Rock, the northeast US regional insurer, continues to seek $100 million in named storm reinsurance protection through its debut catastrophe bond, the Tremont Re Ltd. (Series 2026-1) issuance, but the company now aims to capitalise on investor appetite and has lowered the price guidance for the notes on offer, Artemis understands.

Olympus Insurance Company, a Florida homeowners specialist, has entered the catastrophe bond market for the first time, seeking to sponsor a $100 million Abacab Re Ltd. (Series 2026-1) transaction to secure a capital markets backed source of multi-year Florida named storm reinsurance protection, Artemis understands.

The North Carolina Insurance Underwriting Association (NCIUA) is now aiming to secure up to $600 million of annual aggregate named storm reinsurance protection from its Cape Lookout Re Ltd. (Series 2026-1) catastrophe bond, while the price guidance has been lowered for both tranches of notes on offer, Artemis can report.

Following the annual AIFA conference held in Florida this week, a new report from analysts at Jefferies reveals that industry executives believe it would take a single $100 billion insured loss event to derail the insurance-linked securities (ILS), catastrophe bond, and reinsurance markets.

The Andover Companies is aiming to upsize its new catastrophe bond sponsorship, with the revised target now being to secure between $250 million and as much as $300 million of collateralized catastrophe reinsurance from the Locke Tavern Re Ltd. (Series 2026-1) issuance, Artemis can report.

Catastrophe bond market yields remained flatter than anticipated through February as expected seasonal spread widening proved less pronounced given the continued price pressure from new primary cat bond issuance that is coming to market at lower premiums, data from Plenum Investments shows.