Catastrophe bonds and insurance-linked securities news

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.

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.

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.

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.

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.

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.