Catastrophe bond news

Man Group, a global independent alternative and active investment management firm, has now launched its awaited UCITS catastrophe bond fund managed under the Man AHL brand, with the Man Systematic Cat Bonds fund having become operational earlier this month, Artemis can report.

The UCITS catastrophe bond fund sector has continued to expand through the latest quarter of record, adding more than 3% in assets under management across the group of 17 UCITS cat bond funds, to reach a new high of almost $17.73 billion after September 2025.

Insurer USAA has secured its upsized $400 million target for multi-peril per-occurrence reinsurance from its latest catastrophe bond issuance, as the Residential Reinsurance 2025 Limited (Series 2025-2) deal has now been priced with its spreads finalised at the low-ends of their twice-reduced guidance.

The sixth transaction in the Acorn Re parametric earthquake catastrophe bond series from global reinsurance firm Hannover Re has now been finalised so that this Acorn Re Ltd. (Series 2025-1) transaction will provide $240 million of protection, while the spread paid to noteholders will be below the initial price guidance.

Here are the ten most popular news articles, week ending October 19th 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.

Speaking during Marsh McLennan’s Q3 2025 earnings call, John Doyle, President of the firm said that dedicated reinsurance capital is projected to reach $650 billion by the end of 2025, while also stating that the reinsurance market remains resilient in the face of elevated nat cat losses, geopolitical instability and an uncertain macroeconomic landscape.

As per a survey by Moody’s Ratings, over the next year, reinsurance buyers have indicated a strong preference for catastrophe bonds when it comes to utilising alternative capital, while insurance-linked securities (ILS) funds are expected to see increased demand too.

We’re told that insurer USAA is targeting even lower pricing for its new multi-peril per-occurrence catastrophe bond issuance, the Residential Reinsurance 2025 Limited (Series 2025-2) deal, with the guidance for both tranches of notes on offer reduced for a second time.

The sixth transaction in the Acorn Re parametric earthquake catastrophe bonds from global reinsurance firm Hannover Re looks likely to increase in size and price down, with this Acorn Re Ltd. (Series 2025-1) transaction now targeted at between $225 million and $275 million in size, with lower spread guidance.

LGT ILS Partners would expect that if it becomes necessary to transform its existing UCITS catastrophe bond offering into a new liquid alternative investment category as a result of the recent ESMA recommendation, such investment solutions should remain available for private investors, Michael Stahel, Partner and Portfolio Manager at LGT ILS Partners told us in […]