Cat bond news

SageSure, the fast-growing catastrophe-exposed property specialist MGU, has now moved up to third in the Artemis catastrophe bond sponsor leaderboard, with just over $3.1 billion in risk capital outstanding across cat bonds for related underwriting entities, thanks to the closing of its largest $670 million Gateway Re Ltd. (Series 2026-1) issuance.

The Asian Development Bank (ADB) is aiming to issue its first catastrophe bond in the coming months, with the parametric deal expected to be around $120 million – $150 million in size, designed to protect both the Kyrgyz Republic and Tajikistan against earthquake and flood risks over a three-year term.

The California FAIR Plan Association has raised the target size of its second catastrophe bond sponsorship again, with now $400 million of capital markets backed wildfire reinsurance protection sought from the Golden Bear Re Ltd. (Series 2026-2) cat bond issuance, Artemis understands.

Lumen Re, the main reinsurance underwriting entity of LGT ILS Partners, is now aiming to secure up to $200 million in retrocessional protection against losses from North American peak perils with its debut Photon Re Ltd. (Series 2026-1)  catastrophe bond issuance, Artemis has learned.

The Andover Companies has returned to the catastrophe bond market for its second sponsorship, looking to secure $200 million or more in collateralized catastrophe reinsurance from a Locke Tavern Re Ltd. (Series 2026-1) issuance that will renew and expand the cat bond protection from its soon to mature first issuance, Artemis can report.

Allstate is now targeting the most limit from a single visit to the catastrophe bond market in its history, with now up to $1 billion of fully-collateralized multi-peril per-occurrence catastrophe reinsurance sought from the dual issuances of Sanders Re IV Ltd. (Series 2026-1A) and Sanders Re III Ltd. (Series 2026-1B) cat bond series.

Slide Insurance Company has increased its target for the new Purple Re Ltd. (Series 2026-1) catastrophe bond transaction, with the indicative size raised by roughly 28% to seek $320 million in multi-year collateralized named storm reinsurance, Artemis can report.

Reinsurance and catastrophe bond market participants may not see a typical large protection buy from the Texas Windstorm Insurance Association (TWIA) in 2026, as the latest exposure data from the suggests it may only need just over $355 million of new risk transfer this year, with cat bonds set to provide the rest of its […]

The California FAIR Plan Association is looking to upsize its second catastrophe bond sponsorship by 75%, with now $350 million of capital markets backed wildfire reinsurance protection sought from the Golden Bear Re Ltd. (Series 2026-2) cat bond issuance, Artemis has learned.

Despite tighter spreads in the catastrophe bond market, Legal & General (L&G) intends to maintain its exposure to the asset class, with Alex Turner, Fund Manager Assistant, and Martin Dietz, Head of Diversified Strategies, noting the firm is prioritising portfolio integrity while awaiting more favourable entry points, rather than rotating out of the space.