Catastrophe bond news

The Japanese market represents a material opportunity for future expansion in non-cat sidecars as the broader non-cat sidecar market continues to grow through an influx of new sponsors and heightened activity, according to Bill Dubinsky, Managing Director and Chairman of Gallagher Securities.

Zenkyoren has now secured the targeted $100 million of multi-year collateralized Japanese earthquake reinsurance protection from its new Nakama Re Pte. Ltd. (Series 2026-1) catastrophe bond issuance, with the notes now priced at the mid-point of guidance, this publication can report.

Alternative or third-party reinsurance capital, so that deployed through insurance-linked securities and related collateralized structures, grew by 18% over the course of 2025 and 10% just in the fourth-quarter to reach a record $136 billion at the end of the year, according to the latest estimate from broker Aon.

US military mutual insurer USAA is back in the catastrophe bond market for its 47th sponsorship that we have analysed and tracked, with an initial target for $600 million of reinsurance from this Residential Reinsurance 2026 Limited (Series 2026-1) issuance that could make it the largest ever in the series.

Plenum Investments, the Zurich based specialist catastrophe bond and insurance-linked securities (ILS) investment manager, has published a position paper clearly communicating its thoughts on the European Securities and Markets Authority (ESMA) recommendation regarding cat bond eligibility under the UCITS investment framework.

Private insurance-linked securities strategies that invest in reinsurance and retrocession outperformed in February 2026 according to ILS Advisers, as its Index of strategies across the market returned 0.47% for the month.

Kin Insurance, the direct to consumer insurtech, is now aiming to upsize its new catastrophe bond, with the revised target now being to secure between $325 million and as much as $335 million of fully-collateralized named storm reinsurance protection from the Hestia Re Ltd. (Series 2026-1) issuance, Artemis can report.

Tower Hill Insurance Exchange is back in the catastrophe bond market looking to expand its capital markets backed reinsurance, with an initial target to secure $225 million of protection from a Winston Re Ltd. (Series 2026-1) issuance, the first from the sponsor to feature a third event cover, Artemis can report.

With its fourth terrorism catastrophe bond sponsorship now settled, Pool Re CEO Tom Clementi has said that the £100 million Baltic PCC Limited (Series 2026-1) issuance signals the UK government backed mutual terrorism reinsurance firm’s deep commitment to think beyond the traditional.

US insurer Progressive expanded its aggregate excess-of-loss reinsurance protection at the start of 2026 and has also renewed a hurricane season focused shared reinsurance limit arrangement to cover losses from any storms this year.