Catastrophe bond news

Swiss Re has now secured $210 million in North American earthquake and named storm retrocessional reinsurance protection from capital market investors through its new Matterhorn Re Ltd. (Series 2025-1) catastrophe bond, while both tranches of notes have priced at the bottom of reduced guidance, Artemis has learned.

Here are the ten most popular news articles, week ending January 26th 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.

There are only two weeks left until our next catastrophe bond and insurance-linked securities (ILS) conference. Artemis ILS NYC 2025 is being held in New York on February 7th. With space now running low, please register to ensure you can join us at the event.

Aetna, the health, medical and benefits insurance unit of CVS Health, has now finalised the details of its sixteenth health and medical benefit claim linked insurance-linked securities (ILS) deal, securing the targeted $250 million of reinsurance from the Vitality Re XVI Ltd (Series 2025) issuance and making it the largest Vitality Re deal yet.

Inigo Insurance, the London headquartered specialty insurance and reinsurance underwriter, has now finalised its latest catastrophe bond, with its new $115 million Montoya Re Ltd. (Series 2025-1) issuance now priced, which is the first cat bond from the company to feature multiple tranches, one being a new subsequent event cover.

One of the imperatives for growth of the catastrophe bond market has always been the onboarding of new first time cat bond sponsors into the market and Artemis’ data indicates over 40 have been added to our catastrophe bond sponsor leaderboard in just over three years.

The successful issuance of its debut catastrophe bond, the C$150 million MMIFS Re Ltd. (Series 2025-1) deal, helps to ensure that sponsor TD Insurance can be there for its customers “when it matters most”, President and CEO James Russell has said.

Lockton Re, the reinsurance arm of the independent broking group, has now confirmed the role former Gallagher Re executive Theo Norris has taken at the firm, appointing him UK Capital Markets Structuring and Cyber ILS Leader.

According to sources, retrocessional reinsurance arrangements are not expected to play a particularly significant role in supporting reinsurers losses from the Los Angeles, California wildfires, aside from support being received through quota share arrangements and collateralized sidecar structures.

The CEO of the American Property Casualty Insurance Association (APCIA) has joined the calls on the California legislature to issue catastrophe bonds in order to recapitalise and stabilise the FAIR Plan in the wake of the damaging wildfire losses of recent weeks.