UCITS Catastrophe Bond Funds – assets under management

UCITS cat bond funds – a growing part of the insurance-linked securities asset class

With catastrophe bond issuance particularly strong over the last few years, setting significant new records, the cat bond investment fund market has grown its capital base to support the expanding levels of activity.

As a result, the UCITS catastrophe bond fund sector has been growing fast, with some experiencing particularly rapid expansion of their cat bond assets under management.

Through 2025 the pace of AUM growth accelerated meaningfully, on the back of record catastrophe bond issuance, with UCITS cat bond fund assets reaching $17.15 billion by the middle of the year and then growing further to reach just over $19.12 billion of combined AUM by December 3st 2025.

UCITS cat bond fund assets under management as a group have grown by nearing 120% since the end of 2022. They have risen by almost 75% since the end of 2023 and have added an impressive almost 39% in AUM in 2025 alone.

UCITS catastrophe bond fund assets under management – By year

Our first chart displays the assets under management of UCITS catastrophe bond funds by year, with all figures cited as of year-end. In addition, the current year is updated on a quarterly basis, so this figure is accurate to the end of the quarter stated.

UCITS catastrophe bond fund assets under management – By month

Our second chart on UCITS cat bond fund AuM displays the total by month, which makes for a more granular view of UCITS catastrophe bond fund sector growth.

This by month view, also enables you to see periods where UCITS cat bond fund AuM may have dipped due to catastrophe loss activity, or because of outflows (including outflows during the early months of the COVID-19 pandemic). It also shows more clearly periods of more significant investor inflow to the UCITS cat bond fund sector.