Cat bond news

Hong Kong’s Insurance Authority (IA) has welcomed the recent issuance of the latest catastrophe bond sponsored by Peak Re, the US $50 million Black Kite Re Limited (Series 2025-1) transaction, while also noting that the deal represents a sign of the maturity under its insurance-linked securities (ILS) regulatory regime.

Fidelis Insurance has returned to the catastrophe bond market with an initial $75 million target to renew one of its maturing and also recently loss-affected sources of worldwide aggregate retrocession through a Herbie Re Ltd. (Series 2025-1)  cat bond issuance, Artemis has learned.

As the insurance-linked securities (ILS) market continues to expand, the diversification of risk portfolios has never been more crucial, and according to François Divet, Head of ILS at AXA Investment Managers (AXA IM), the expanding range of perils within the ILS space could help.

Florida-headquartered Slide Insurance Company has now successfully priced what will be its largest catastrophe bond yet, securing the targeted $250 million of named storm reinsurance through its new Purple Re Ltd. (Series 2025-1) transaction, Artemis has learned.

Here’s a reminder to register for our live Catastrophe Bond and ILS Market Conditions at Mid-Year 2025 webinar that is being held on June 17th 2025, in which our industry expert speakers will discuss market conditions and provide thoughts on the ILS market outlook at the mid-point of the year.

At a Board meeting of the Texas Windstorm Insurance Association (TWIA) today, attendees heard that the catastrophe bond and reinsurance placement for 2025 is “looking good” while also noting that the projected rate-on-line (RoL) for the placement looks to be lower than the prior year, as the market has softened somewhat.

In an announcement today GAM Investments (GAM) and Fermat Capital Management (Fermat) said that they have reached a mutual agreement that will see Fermat becoming the sole manager of the offshore GAM FCM Cat Bond Fund, with GAM to have no ongoing involvement in the strategy.

Florida’s Citizens Property Insurance Corporation has now successfully priced what is the biggest catastrophe bond issuance ever seen, securing a 56% upsized $1.525 billion of reinsurance from its new Everglades Re II Ltd. (Series 2025-1) issuance, Artemis has learned.

The GAM Star Cat Bond Fund strategy has experienced a meaningful outflow of investor capital we understand, with the UCITS fund’s assets under management declining by approximately 25%, or around US $650 million, just in the month of April 2025.

Specialist insurance-linked securities investment manager Twelve Securis has put in place a temporary restriction on new subscriptions to its flagship Twelve Cat Bond Fund, as the manager looks to manage flows as the strategy reaches a new record size.