Catastrophe bonds and insurance-linked securities news

The insurance-linked securities (ILS) market experienced a strong month of returns in July 2025 according to the ILS Advisers Fund Index, with private ILS funds leading the way and on average now positive for the year to July 31st as a group, having erased the negative effects of California wildfires at the start of the […]

Our catastrophe bond and insurance-linked securities (ILS) conference, Artemis London 2025 is tomorrow. Held in London on September 2nd, over 220 people are joining us for a full-day of in-depth discussion about the ILS market and valuable networking. Register to attend and join the crowd.

Three key dominant trends have been revealed following a record period of catastrophe bond issuance according to Richard Pennay, CEO, Aon Securities, the specialist investment banking and insurance-linked securities (ILS) broker-dealer unit of the global insurance and reinsurance broker.

Swiss Re, one of the world’s largest reinsurance companies, is back in the catastrophe bond market for what will be its third sponsorship this year, targeting $75 million or more in North America earthquake retrocession from a Matterhorn Re Ltd. (Series 2025-3) transaction, Artemis has learned.

Insurer USAA is set to return a further $25 million of catastrophe bond capital to investors from the extended notes of its Residential Reinsurance 2021 Limited (Series 2021-1) aggregate cat bond, presumably as loss development has continued to be more favourable under the coverage provided, this publication has learned.

The amount of alternative capital in reinsurance supplied by insurance-linked securities (ILS) strategies and structures has reached a new high of $121 billion as of the middle of 2025, which Aon Securities notes was driven by strong catastrophe bond growth and supported by ongoing expansion of the sidecar sector as well.

HDI Global and its parent company Talanx are streamlining their reinsurance purchasing operations through consolidation, signaling potential for increased and larger market transactions such as catastrophe bonds.

Following its recent publication of a discussion paper on rating insurance-linked securities (ILS), with a focus on catastrophe bonds, Moody’s Ratings has moved forward and now proposes a new methodology for rating cat bonds and other ILS, seeking final feedback before its implementation.

Every few years it feels like groundhog day again, as we begin to see a rise in negative sentiment towards the insurance-linked securities (ILS) market and its investors from major traditional reinsurance companies, typically at a time of rising competitive dynamics in the marketplace.

Another private catastrophe bond or private insurance-linked securities (ILS) arrangement has come to light from the Mangrove Risk Solutions platform, with this $4.95 million Mangrove Risk Solutions Bermuda Ltd. (Series 2025-G) transaction now taking private issuance tracked by Artemis to over $440 million so far in 2025.