Insurance linked securities news, ILS news

Rapid intensification of tropical storm Erick into a major hurricane has brought Mexico’s Pacific coast hurricane parametric catastrophe bond, the $175 million IBRD CAR Mexico 2024 (Pacific) issuance, sharply into focus, as Erick’s central pressure is estimated just a couple of millibars above where the trigger for attachment sits.

Florida’s Citizens Property Insurance Corporation has leaned more heavily on the catastrophe bond market for its 2025 risk transfer strategy, with CFO Jennifer Montero revealing that 70% of the insurer’s total risk transfer program, including both new and continuing coverage, is now backed by cat bonds.

US insurer Allstate has announced an estimated pre-tax catastrophe loss burden for the month of May 2025 of $777 million, which when added to the cat losses from April takes the total for its 2025 annual risk period for its aggregate catastrophe bonds to $1.37 billion.

With targets upsized for two 144A catastrophe bond sponsorships that are in the market at this time, the annual record for 144A cat bond issuance could now be exceeded before the end of the first-half of 2025, with close to $17.5 billion now a possible H1 issuance total, if the remaining 144A cat bonds all […]

Catastrophe bonds and insurance-linked securities (ILS) have become a foundational component of cedant and sponsor reinsurance towers in 2025, with the market now living up to the promise many believed it presented from the start, speakers in our Artemis Live webinar said yesterday.

Convex Group, the specialty insurance and reinsurance company, has raised the target size for its latest and third catastrophe bond sponsorship, with protection from the Hypatia Ltd. (Series 2025-1)  cat bond issuance now expected to fall between $125 million and as much as $150 million, Artemis has learned.

Everest Re, the global reinsurer arm of Everest Group, looks set to secure meaningful catastrophe bond backed reinsurance capacity as its target has now doubled to secure $900 million in collateralized retrocession from its new Kilimanjaro II Re Ltd. (Series 2025-1) and Kilimanjaro II Re Ltd. (Series 2025-2) transactions, Artemis can report.

SV SparkassenVersicherung (SV) is setting its sights on future catastrophe bond activity after making its market debut earlier this year with the $100 million Liongate Re DAC issuance, a landmark deal co-sponsored with Japan’s Zenkyoren.

Vermont Mutual Insurance Company has now secured the 25% upsized target for $250 million of fully-collateralized multi-peril reinsurance from its new Baldwin Re Ltd. (Series 2025-1) catastrophe bond issuance, Artemis has learned.

The Colorado State University (CSU) tropical meteorology team has maintained its forecast for the 2025 Atlantic hurricane season to see above-average levels of activity, citing low odds of El Niño occurring during the peak season and keeping its forecast numbers relatively aligned with the recent 10-year average.