Catastrophe bond news

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.

US primary insurer Allstate has disclosed that a heavy March catastrophe loss burden means it now anticipates making $123 million of reinsurance recoveries from its aggregate tower, whose coverage is solely provided by catastrophe bonds from the Sanders Re program.

Great American Insurance Group has now secured $310 million of multi-peril collateralized reinsurance through its new Riverfront Re Ltd. (Series 2025-1) catastrophe bond transaction, which represents 38% more in protection than the insurer had initially targeted from the deal and its largest cat bond yet, according to our sources.

Louisiana Citizens Property Insurance Corporation has secured the 40% upsized target for $280 million of collateralized named storm reinsurance from the Bayou Re Ltd. (Series 2025-1) catastrophe bond issuance, which now becomes the insurers largest cat bond ever, Artemis can report.

Here are the ten most popular news articles, week ending April 20th 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.