Private ILS transaction news

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.

The Mangrove Risk Solutions private insurance-linked securities (ILS) platform operated by Marsh McLennan and reinsurance broker Guy Carpenter has issued its largest private catastrophe bond deal so far, with a $102.5 million Mangrove Risk Solutions Bermuda Ltd. (Series 2025-A) that has come to light in July.

Estimated insured losses from Hurricane Erick, which struck Mexico’s Pacific coast last week, are expected to fall well bellow the US$1.97 billion insured losses from 2023’s Hurricane Otis, according to global ratings agency AM Best.

The Mangrove Risk Solutions private insurance-linked securities (ILS) platform operated by Marsh McLennan and reinsurance broker Guy Carpenter has issued a $6.25 million Mangrove Risk Solutions Bermuda Ltd. (Series 2025-D2) private catastrophe bond deal.

Twelve Securis, the specialist insurance-linked securities investment manager, is not anticipating any impact to the World Bank catastrophe bond or any of the firm’s private ILS positions due to losses caused by major hurricane Erick in Mexico yesterday.

Centauri Insurance and Lilypad Insurance are the sponsors and beneficiaries of the recently completed $30 million Sailfish Re Ltd. (Koi Re – Series 2025-1) private catastrophe bond transaction, with the transaction providing the ceding companies a source of named storm reinsurance protection.

Bermuda-domiciled special purpose insurer Sailfish Re Ltd. has issued a $30 million tranche of private catastrophe bond notes for an unknown sponsor, under a Koi Re Series 2025-1 issuance, Artemis has learned.