Insurance linked securities news, ILS news

Arch Capital is once again hoping to reopen the market for mortgage insurance-linked securities (ILS), seeking $199.3 million of capital markets backed mortgage reinsurance through a Bellemeade Re 2025-1 Ltd. deal, which will be the first issuance of mortgage insurance-linked notes in more than one year.

The price guidance has been reduced a second time for the debut Meadows Ltd. (Series 2025-1) catastrophe bond for One William Street Capital Management, L.P., while the deal is still targeted to secure a slightly upsized $135 million in US named storm retrocessional reinsurance protection for the investment manager, Artemis has learned.

At a meeting of the Texas Windstorm Insurance Association (TWIA) Board today, the recently proposed new weighting methodology for a blending of catastrophe risk models to derive the 1-in-50 year PML was approved.

US-headquartered insurance holding company W. R. Berkley Corporation has continued to expand its use of its Lifson Re collateralized reinsurance sidecar through the third quarter of 2025, with written premiums ceded to the sidecar rising 53% year-on-year to $482 million, the highest level the company has recorded to date.

Bermuda headquartered re/insurer Vantage Risk has expanded its leadership team with a number of key promotions across its Reinsurance division and Partnership Capital platform, including Brant Loucks, who has been promoted to Managing Director, Partnership Capital & ILS.

Nephila Capital, the specialist insurance-linked securities and catastrophe reinsurance investment manager had a successful twelve months of capital raising, with its assets under management (AUM) rising by $600 million to reach $7.6 billion as of September 30th 2025, Artemis can report.

The California Earthquake Authority (CEA) has returned to the catastrophe bond market to sponsor its third issuance this year and with an initial target to secure $600 million in fully-collateralized earthquake reinsurance from this Ursa Re II Ltd. (Series 2025-2) issuance it could become one of its largest cat bonds ever.

The overall yield of the catastrophe bond market declined to 8.81% as of October 31st 2025, falling back to levels last seen in June 2022, while the insurance risk spread, or discount margin, has now declined to its lowest point since November 2019, the latest data from Plenum Investments shows.

Having made its insurance-linked securities (ILS) grant scheme more restrictive back in 2023, to only offer the grant to catastrophe bonds or ILS covering regional risks from Asia Pacific, Singapore is reversing that move and expanding the ILS grant offering once again to cover cat bond risks from other locations around the globe, it appears.

As Jamaica awaits an official determination on a potential $150 million payout from its IBRD CAR Jamaica 2024 parametric catastrophe bond from Hurricane Melissa, ratings agency Fitch has said that it does not expect to see any adverse reaction from the insurance-linked securities (ILS) market as a result of the payout.