Private cat bond news

Issuance of catastrophe bonds and related insurance-linked securities (ILS) was above-average at $1.036 billion in the third-quarter of 2025, lifting annual issuance to $18.6 billion at the end of the period. Which puts this year well on-track to surpass the $20 billion mark for the first time ever, Artemis’ new quarterly cat bond market report […]

Based on our extensive data on the catastrophe bond market it’s clear another record is coming into view. We have already tracked and listed 95 individual catastrophe bond issuances in the Artemis Deal Directory so far in 2025, which equals the full-year record set for number of deals issued and tracked by us in 2023.

Another new private catastrophe bond transaction, or cat bond lite deal has come to light, with $15 million of privately placed Kettering insurance-linked securities (ILS) notes issued by a Bermuda based Artex Risk Solutions operated transformer entity, Artemis has learned.

Two more private catastrophe bonds have come to light from the Eclipse Re Ltd. transformer vehicle, which has taken the total issued by the Artex managed structure to $118.2 million in 2025 so far across seven series of notes, lifting private cat bond issuance tracked by Artemis to $496.51 million year-to-date.

Private catastrophe bond issuance in 2025 has now surpassed the full-year total from 2024, as three new series of notes issued by the Eclipse Re Ltd. transformer vehicle have come to light and taken this year’s figure to over $465 million.

Another private catastrophe bond or private insurance-linked securities (ILS) arrangement has come to light from the Mangrove Risk Solutions platform, with this $4.95 million Mangrove Risk Solutions Bermuda Ltd. (Series 2025-G) transaction now taking private issuance tracked by Artemis to over $440 million so far in 2025.

Another private catastrophe bond issuance has come to light, as an Artex Risk Solutions owned and operated entity has issued a roughly US $40.6 million Artex Axcell Re (Series FE0003) cat bond lite transaction that being denominated in Japanese Yen suggests the underlying risk transfer arrangement likely covers perils within that country.

Two new private catastrophe bond, or cat bond lite deals have emerged, with $35 million of privately placed insurance-linked securities (ILS) notes issued by a Bermuda based Artex Risk Solutions owned transformer entity, Artemis has learned.

The Mangrove Risk Solutions private insurance-linked securities (ILS) platform operated by Marsh McLennan and reinsurance broker Guy Carpenter has issued another private cat bond lite deal, as a roughly $22.43 million Mangrove Risk Solutions Bermuda Ltd. (Series 2025-C1) transaction has come to market, Artemis has learned.

An Artex Risk Solutions entity has issued a new private catastrophe bond arrangement, with the roughly US $4 million Artex Axcell Re (Series FE0002) transaction appearing to be a possible renewal of a previous deal, while also being denominated in Japanese Yen suggesting the cat bond lite likely covers perils from that country.