reinsurance

Moody’s Ratings forecasts that property catastrophe reinsurance pricing will likely fall around 15% over the coming year, as elevated capital levels result in a supply-demand dynamic that favors buyers of protection.

Progressive, the US insurance company, has now priced and successfully secured the 79% upsized $125 million of aggregate catastrophe reinsurance limit from its latest catastrophe bond, with the Bonanza Re Ltd. (Series 2025-1) issuance now priced at the low-end of reduced guidance, Artemis understands.

For the sixth year running, 2025 will see over $100 billion of natural catastrophe losses covered by sources of insurance and reinsurance capital, according to Swiss Re’s Institute, with the research part of the reinsurer projecting a total of around US $107 billion for the year.

Following a field trip to Bermuda, analysts at TD Cowen have concluded from their discussions on the island that higher-layer property catastrophe reinsurance rates could be down 20% or more at the January 2026 renewals, while attachment points are largely holding, but the renewal is seen as running late.

Looking ahead to 2026, Michael van der Straaten, CEO of Antares Global, a London-based specialty re/insurer, outlined that the company is projecting that alternative capital, captives, and new structures will continue to play a key role towards shaping the specialty re/insurance market throughout next year.

Groupama, the French mutual insurance and reinsurance company, has raised its target for fully-collateralized convective storm reinsurance protection from the capital markets from its new Quercus II Re DAC catastrophe bond, with now up to €120 million of protection sought, Artemis understands.

Willis Re, the recently established reinsurance brokerage launched by WTW in a joint venture established with specialist private investment firm Bain Capital, is building out its broking expertise of relevance to the insurance-linked securities and third-party reinsurance capital markets.

The financial regulator in Abu Dhabi is asking for stakeholder and industry feedback as it considers developing a framework to support growth of an insurance-linked securities market there, while also seeking input to a concept for a “synthetic sidecar” structure that would sit within a regulated insurance entity.

Beazley’s fourth successful sponsorship of a 144A cyber catastrophe bond, the $300 million PoleStar Re Ltd. (Series 2026-1) issuance, which became the largest cyber cat bond to be issued so far, demonstrates evidence of the company’s ability to drive sustained growth within the cyber insurance-linked securities (ILS) space, CUO Paul Bantick said today.

Inigo Insurance has now priced and finalised the details of its largest catastrophe bond yet, securing the targeted $255 million of multi-peril reinsurance protection from the Montoya Re Ltd. (Series 2025-2) issuance, Artemis has learned.