reinsurance

US insurance company Progressive has for a second time lifted the targeted amount of reinsurance protection it is seeking from its latest catastrophe bond, with the Bonanza Re Ltd. (Series 2025-1) issuance now offered to provide it $125 million of aggregate reinsurance for the insurer, we understand from sources.

Here are the ten most popular news articles, week ending December 14th 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.

While rate decreases have persisted within catastrophe exposed property reinsurance, analysts at Amwins believe they are beginning to trend toward moderation, anticipating that any continued downward movement will likely shift to between 10% to 15% as 1/1 approaches, but also noting that underwriting standards have loosened modestly.

American Family Mutual Insurance Company (AmFam) has now secured the 33% upsized $200 million of multi-peril US catastrophe reinsurance protection from the capital markets through its new Four Lakes Re Ltd. (Series 2025-1) catastrophe bond issuance, while the spreads were finalised at the low-end of reduced guidance.

The California FAIR Plan Association has now successfully priced and secured what will become the largest catastrophe bond exposed to wildfire risks ever, as the Golden Bear Re Ltd. (Series 2026-1) issuance will provide it $750 million of reinsurance, Artemis can report.

Progressive, the US insurance company, has raised its target for reinsurance protection from its latest catastrophe bond, with the Bonanza Re Ltd. (Series 2025-1) issuance now seeking $100 million of aggregate reinsurance for the insurer, Artemis has learned.

Beazley has for a second time lowered the price guidance for its new $100 million London Bridge 2 PCC Limited (Fuchsia 3 – 2025-1) catastrophe bond deal, as the company looks to secure the targeted natural catastrophe reinsurance at an even keener risk interest spread, Artemis can report.

Liberty Mutual Insurance has now secured an upsized $150 million of catastrophe reinsurance limit from its new Mystic Re IV Ltd. (Series 2026-1) catastrophe bond, while the two tranches of notes being placed have both been priced below their mid-points of guidance, Artemis understands.

We are pleased to reveal the second wave of speakers for our next insurance-linked securities conference. With the Early Bird rate almost sold out for ILS NYC 2026 and with representatives of over 140 organisations already registered we encourage you to get your ticket soon if you want to secure this discounted rate.

Speaking today during Munich Re’s 2025 Investor Day event, Thomas Blunck Member of the Board of Management, explained that he considers the insurance-linked securities (ILS) market and its respective sub-segments are more vulnerable to price reductions compared to insurance and reinsurance.