Catastrophe bonds and insurance-linked securities news

SageSure now looks set to secure $100 million in U.S. named storm reinsurance protection from its latest catastrophe bond that will protect the Auros and Elevate reciprocal exchanges, while the price for the new Gateway Re Ltd. (Series 2025-3) issuance appears set to finalise below guidance.

King Ridge Capital Advisors LLC, a recently launched specialist insurance-linked securities (ILS) investment manager, has announced the hiring of former-PIMCO executive Shiraj Khan, who joins the company as Partner, Senior Vice President, and Head of Property Analytics and Research.

Mercury General Corporation, the California headquartered insurer, has now successfully priced its first 144A catastrophe bond, securing the 50% upsized $150 million in reinsurance protection from the capital markets with the Luca Re Ltd. (Series 2025-1) issuance that will cover it for wildfire and fire-following earthquake losses in its home state, Artemis can report.

Ariel Re, the global reinsurance firm, is “very happy” with the four-year stability of the retrocessional protection it has secured with its recently sponsored $150 million Titania Re Ltd. (Series 2025-1) catastrophe bond, according to CEO Ryan Mather.

Global reinsurance company Swiss Re has returned to the catastrophe bond market for the second time this year, aiming to secure $65 million or more in North American earthquake and named storm retrocession from investors, through a Matterhorn Re Ltd. (Series 2025-2) transaction, Artemis has learned.

Plenum Investments AG, the Swiss based specialist manager of catastrophe bond and insurance-linked securities (ILS) funds, has hired Raphael Kron, an executive with significant experience advising institutional clients in the region, as well as specific cat bond expertise.

Issuance of catastrophe bonds and related insurance-linked securities (ILS) approached a massive $10.5 billion for the second-quarter of 2025, growing the outstanding cat bond market by $4.6 billion to a new end of quarter high of $56.7 billion, Artemis’ new quarterly cat bond market report shows.

SageSure is now targeting slightly reduced pricing for its latest catastrophe bond, with the target remaining to secure $100 million or more in U.S. named storm reinsurance, from the Gateway Re Ltd. (Series 2025-3) issuance, that will protect the Aurous and Elevate reciprocal exchanges, Artemis has learned.

A wave of alternative capital, led by a record-setting surge in catastrophe bond issuance, helped reinsurers meet growing demand without pushing prices higher at the July 1 renewals, according to Gallagher Re, as cedants secured improved terms in property and specialty lines.

Global reinsurance capital outpaced demand at the 2025 mid-year renewals, fostering a more competitive environment for buyers, according to Aon. The firm also estimated that insurance-linked securities (ILS) capital remained stable at $115 billion as of the end of the first quarter, underscoring the ongoing strength and resilience of alternative capital sources.