Cat bond news

Utica National Insurance Group is now aiming to upsize its debut Genesee Street Re Ltd. (Series 2025-1) catastrophe bond issuance, with the target lifted to as much as $150 million in US named storm and severe thunderstorm reinsurance protection, Artemis has learned.

Peak Re has now successfully priced its second catastrophe bond with the Black Kite Re Limited (Series 2025-1) issuance set to provide the targeted $50 million of retrocession across Japanese typhoon and earthquake risks on an industry-loss basis, as well as China and India earthquakes using a parametric trigger.

After securing its debut catastrophe bond, the $150 million MMIFS Re Ltd. (Series 2025-1) issuance in January, TD Insurance is signalling a long-term commitment to the cat bond market as the company is looking ahead to future issuances as part of a broader reinsurance strategy, according to President and CEO, James Russell.

This video features an expert panel discussing finding balance for sponsors and investors in the catastrophe bond segment of the insurance-linked securities (ILS) market at our Artemis ILS NYC 2025 conference, which was held in New York on February 7th 2025.

RenaissanceRe, the Bermuda based reinsurance company and third-party capital manager, has raised almost $462 million in new third-party capital across its range of joint-ventures and insurance-linked securities (ILS) funds in the first-quarter of 2025, but the California wildfires saw losses shared with investors and dented the firms fee income for the period.

Palomar Insurance Holdings has raised the target size for its new Torrey Pines Re Ltd. (Series 2025-1) catastrophe bond issuance, with now as much as $525 million of California earthquake reinsurance limit being sought from the capital markets through this deal.

Artemis has learned that a new Liongate Re DAC catastrophe bond is in the market with a target to secure $100 million of limit to provide Japanese mutual Zenkyoren with aggregate earthquake reinsurance, while also providing a source of German parametric quake cover as well which we believe may protect entities of the Sparkassen-Finanzgruppe.

The recent $100 million Nakama Re Pte. Ltd. (Series 2025-1) catastrophe bond sponsored by Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, was the first ever cat bond issuance to utilise bonds issued by the Asian Development Bank (ADB) as collateral assets.

New York and northeast US focused insurer Kingstone Companies has entered the catastrophe bond market for the first time, seeking $100 million or more in named storm reinsurance protection from the capital markets with a debut 1886 Re Ltd. (Series 2025-1) issuance, Artemis has learned.

With a growing number of catastrophe bond sponsors opting to bring deals to market earlier in the year, the increasing availability of pre-wind season and off-risk investment opportunities, that pay a partial or full risk premium spread right from settlement, are proving attractive to cat bond investors we’ve spoken with.