Insurance linked securities news, ILS news

Spain headquartered global reinsurance company Mapfre Re has returned to the catastrophe bond market for its second visit, looking to secure €125 million in annual aggregate European windstorm retrocession deal through its second Recoletos Re DAC (Series 2025-1) issuance, Artemis has learned.

Third-party investor capital under management in RenaissanceRe Capital Partners range of reinsurance joint-ventures and insurance-linked securities strategies rose to $8.54 billion by September 30th 2025, with the figure increasing by $450 million in the quarter.

The Prudential Regulation Authority (PRA) of the Bank of England has published a discussion paper to gather feedback on how the UK’s insurance special purpose vehicle (ISPV) or ILS structures can play a role towards bringing in alternative capital to support life risks and reinsurance in the UK.

The California Earthquake Authority (CEA) has now raised its target for fully-collateralized earthquake reinsurance from its latest catastrophe bond, the Ursa Re II Ltd. (Series 2025-2) issuance, with now between $670 million and $770 million of limit sought, while the price guidance has been reduced for both tranches of notes.

The Hartford, a US primary property and casualty insurer, is back in the catastrophe bond market seeking $270 million or more in multi-peril collateralized catastrophe reinsurance protection from the capital markets through sponsorship of a Foundation Re IV Ltd. (Series 2026-1) cat bond issuance.

AXA XL, the global specialty insurance and reinsurance arm of the AXA Group, has returned to the catastrophe bond market seeking $175 million or more of industry loss based retrocessional protection with a new Galileo Re Ltd. (Series 2025-1) issuance, as the company demonstrates a desire to secure more capital markets backed cover.

Here are the ten most popular news articles, week ending November 16th 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.

Jonathan Gray, Chief Underwriting Officer at Pool Re, the UK’s leading terrorism reinsurer, has emphasised that while its catastrophe bond activity is smaller than the traditional retrocession programme, it remains ‘absolutely central’ to the firm’s risk protection framework.

Arch Capital has successfully closed Bellemeade Re 2025-1 Ltd., the firm’s latest issuance of mortgage insurance-linked notes, which was priced at $199.3 million, while the firm also purchased a further $49,826,000 of mortgage reinsurance from a panel of reinsurers in tandem with this mortgage insurance-linked notes issuance.

Beazley has returned to the catastrophe bond market seeking $100 million of natural catastrophe reinsurance, once again using the Lloyd’s owned ILS structure to issue this London Bridge 2 PCC Limited (Fuchsia 3 – 2025-1) deal.