Cat bond news

Here are the ten most popular news articles, week ending December 14th 2025, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

American Family Mutual Insurance Company (AmFam) has now secured the 33% upsized $200 million of multi-peril US catastrophe reinsurance protection from the capital markets through its new Four Lakes Re Ltd. (Series 2025-1) catastrophe bond issuance, while the spreads were finalised at the low-end of reduced guidance.

The California FAIR Plan Association has now successfully priced and secured what will become the largest catastrophe bond exposed to wildfire risks ever, as the Golden Bear Re Ltd. (Series 2026-1) issuance will provide it $750 million of reinsurance, Artemis can report.

Progressive, the US insurance company, has raised its target for reinsurance protection from its latest catastrophe bond, with the Bonanza Re Ltd. (Series 2025-1) issuance now seeking $100 million of aggregate reinsurance for the insurer, Artemis has learned.

Beazley has for a second time lowered the price guidance for its new $100 million London Bridge 2 PCC Limited (Fuchsia 3 – 2025-1) catastrophe bond deal, as the company looks to secure the targeted natural catastrophe reinsurance at an even keener risk interest spread, Artemis can report.

Liberty Mutual Insurance has now secured an upsized $150 million of catastrophe reinsurance limit from its new Mystic Re IV Ltd. (Series 2026-1) catastrophe bond, while the two tranches of notes being placed have both been priced below their mid-points of guidance, Artemis understands.

We are pleased to reveal the second wave of speakers for our next insurance-linked securities conference. With the Early Bird rate almost sold out for ILS NYC 2026 and with representatives of over 140 organisations already registered we encourage you to get your ticket soon if you want to secure this discounted rate.

TD Insurance, part of Canada’s TD Bank group, has returned to the catastrophe bond market for its second sponsorship, seeking C$125 million in aggregate reinsurance from the capital markets to cover a broader range of perils than its first cat bond, through a MMIFS Re Ltd. (Series 2026-1) deal, Artemis has learned.

Inigo Insurance is now seeking lower pricing across two tranches of its latest catastrophe bond but the guidance for an aggregate tranche of notes has moved a little higher, while the target is still to make this its largest cat bond yet as the $255 million goal remains for the Montoya Re Ltd. (Series 2025-2) […]

At an investment board meeting held this week the Iowa Public Employees’ Retirement System (IPERS) conceptually approved a new allocation to a Man AHL managed catastrophe bond fund, as the pension looks to bring more absolute return strategies into its portfolio.