London Market Expands Alternative Capital Use, but Could Exacerbate Softening: AM Best
London insurers and reinsurers, especially at Lloyd’s, have markedly increased their reliance on alternative capital sources such as sidecars, quota‑share arrangements and catastrophe bonds. The influx of third‑party capital is adding to an already sizable organic surplus generated by several strong underwriting years. AM Best notes that while this capital boost can lift return on equity and aid cycle management, it also risks accelerating premium‑rate softening. The market now faces a balancing act between leveraging new capital and preserving underwriting profitability.
PCRIC Issues Parametric Payouts to Fiji and Solomon Islands Following Recent Cyclones
The Pacific Catastrophe Risk Insurance Company (PCRIC) disbursed two cyclone payouts: an ex‑gratia FJD 1.2 million (≈US $545,000) to Fiji after Cyclone Vaianu, and a US $500,000 parametric payment to the Solomon Islands following Cyclone Maila. Fiji’s payment was granted despite the event falling...
It’s Time to Bring the Catastrophe Bond Onshore: John Seo
John Seo, co‑founder of Fermat Capital Management, called for U.S. onshore issuance of catastrophe bonds, arguing that domestic options would unlock the market’s full potential. He said the shift would require congressional action to create a tax‑friendly framework. Seo highlighted...
Cayman Considers Catastrophe Bond, More Parametric Insurance to Expand Hurricane Protection
The Cayman Islands government is weighing a new catastrophe bond and expanded parametric insurance to strengthen hurricane protection as the 2026 season nears. Finance Minister Rolston Anglin said the review reflects higher exposure from population growth and increased assets. Options...
WFP Progresses Food Security Catastrophe Bond Plan, to Mobilise $100m for Drought Resilience
The United Nations World Food Programme is advancing a pioneering food‑security catastrophe bond that could raise up to $100 million to fund drought resilience across Sub‑Saharan Africa. Backed by the World Bank and €1.5 million (≈$1.6 million) from Luxembourg, the bond would make...
Louisiana Citizens Targets Slightly Lower Pricing for $150m Bayou Re 2026-1 Cat Bond
Louisiana Citizens Property Insurance Corporation is pursuing a $150 million named‑storm reinsurance program through the Bayou Re Ltd. Series 2026‑1 catastrophe bond, its twelfth such sponsorship. The insurer’s target amount remains unchanged, but price guidance for the Class A tranche has been nudged...
Universal Finalises Reinsurance Renewal, Locks in $352m of Additional Multi-Year Cover: CEO
Universal Insurance Holdings announced the completion of its 2026‑2027 catastrophe reinsurance renewal, securing full placement for its insurance entities. The renewal adds $352 million of multi‑year coverage extending through the 2027‑2028 treaty period. Retentions remain at $45 million with a $66 million layer...
Suncorp Purchases Five-Year Aggregate Reinsurance Cover
Australian insurer Suncorp has entered a five‑year aggregate reinsurance treaty starting 30 June 2026, providing up to AUD 800 million ($528 million) of annual protection and a total ceiling of AUD 2.4 billion ($1.58 billion). The attachment point for FY’27 is set at AUD 1.85 billion ($1.22 billion), slightly above the...
Mangrove Sponsoring Debut Buttonwood Re Cat Bond, Targeting $100m 2026-1 Issuance
Mangrove Property Insurance, launched in early 2025, is sponsoring its first catastrophe bond through Bermuda‑based Buttonwood Re Ltd. The company aims to raise $100 million across four tranches of the Series 2026‑1 issuance, providing both occurrence and aggregate reinsurance for named storms...
Swiss Re Targets $250m US Named Storm Retro with Matterhorn Re 2026-2 Cat Bond
Swiss Re is issuing a second catastrophe bond this year under its Bermuda‑based Matterhorn Re program, targeting $250 million of U.S. named‑storm retrocession. The deal comprises a $150 million Class A tranche covering the Northeast and a $100 million Class B tranche offering nationwide protection,...
Schroders Capital & Hannover Re Integrate Tokenisation Capability Into ILS Platform
Schroders Capital’s Private Debt & Credit Alternatives team and reinsurer Hannover Re have added a tokenised capability to their insurance‑linked securities (ILS) platform, completing the first real‑world collateralised reinsurance transaction on the system. The new model uses blockchain‑based smart contracts to...
American Coastal Secures Targeted $200m Florida Multi-Peril Cover with Armor Re II 2026-1 Cat Bond
American Coastal Insurance Company has priced its Armor Re II 2026-1 catastrophe bond, locking in the targeted $200 million multi‑peril reinsurance program for Florida. The bond consists of two $100 million tranches: Class A priced at a 5 % risk spread and Class B at...
Why Hurricane Peak Uncertainty Offers a Strategic Window for Cat Bond Entry: Powell, Brookmont
Brookmont Capital’s CIO Ethan Powell argues that the pre‑season window of the 2026 Atlantic hurricane outlook offers a prime entry point for catastrophe bonds, as heightened uncertainty can translate into higher yields. While forecasts suggest an average-to‑below‑average season, record sea‑surface...
Global Property Insurance Rates Fall 9% in Q1 2026, as Appetites Broaden: Marsh Risk
Marsh Risk reports a 9% drop in global commercial property insurance premiums in Q1 2026, mirroring the soft‑market trend from Q4 2025. The decline is most pronounced in the Pacific (‑14%) and also spans the United States (‑10%), United Kingdom (‑10%), Europe...
Euler ILS Partners Sees $1bn Fund Opportunity for Data Centre Sidecar Risk: Bloomberg
Euler ILS Partners, a Swiss specialist in insurance‑linked securities, is planning a $1 billion sidecar fund to underwrite data‑center construction risk. The fund will use quota‑share arrangements with an insurer, targeting double‑digit returns for investors. Euler has already secured indications of...
Hong Kong ‘Ideally Placed’ to Promote Use of Alternative Risk Transfer and ILS: IA’s Stephen Yiu
Hong Kong’s Insurance Authority Chairman Stephen Yiu said the city is uniquely positioned to champion alternative risk transfer and insurance‑linked securities (ILS). He highlighted that global ILS assets under management hit a record $129 billion in Q1 2026 and that Hong Kong...
Evolving Flood and Drought Patterns Are Reshaping Global Re/Insurance Risk: Aon
Aon’s 2026 Climate and Catastrophe Insight report warns that intensifying flood and drought events are reshaping global re/insurance risk. In 2025, worldwide flood losses exceeded $42 billion, while drought accounted for about $13 billion in damages. In the United States, pluvial‑flood risk...
Supply-Demand Softening Property at a Pace “I’ll only Describe as Dumb” – Chubb CEO Greenberg
Chubb’s CEO Evan Greenberg warned that property insurance pricing is softening at a "dumb" pace, with rates in North America and London down 25‑30% in Q1. The insurer responded by non‑renewing a sizable share of layered and shared property business...
PERILS Launches 2026 IED, Showing $150tn in Global Nat Cat Exposures
PERILS has released its 2026 Industry Exposure Database, quantifying $150 trillion of insured property assets exposed to natural catastrophes across 21 countries. The database shows a 4.7% year‑on‑year increase on a constant‑USD basis and a 15.2% rise at current exchange rates,...
Shared Platform and Unified Data Layer the Foundation for Reinsurance/ILS Alignment: Korra’s Rasool
Insurance‑linked securities (ILS) and reinsurance have long relied on fragmented, PDF‑based contracts that create interpretation gaps among insurers, MGAs, reinsurers and investors. Umair Rasool, GM of Korra, argues that a shared platform and unified data layer can standardize contract data,...
Kyrgyz Republic & Tajikistan Parametric Cat Bonds From the ADB Could Upsize Slightly
The Asian Development Bank is upsizing its first parametric catastrophe bonds for the Kyrgyz Republic and Tajikistan to between $75 million and $80 million each. The earthquake sub‑limit will rise to $65‑70 million while the extreme‑precipitation cover remains at $10 million. Investor risk margin...
Acrisure Re Integrates Capital and Captives Division to Form Alternative Risk Solutions Platform
Acrisure Re has merged its Capital and Captives division into a new platform called Acrisure Re Capital and Captives, creating an end‑to‑end alternative risk solutions offering. The unit consolidates more than 275 captive specialists in North America and Bermuda under...
Twelve Securis “Cautious, but Optimistic” About El Niño’s Influence on Hurricane Season Risk
Twelve Securis, a specialist ILS manager, says a potentially record‑strong El Niño will likely suppress Atlantic hurricane activity in the 2026 season. Early forecasts point to below‑average storm numbers—about 12 named storms, five hurricanes and two major hurricanes—yet warm sea‑surface temperatures...
Australia’s 2025 Extreme Weather Insured Losses Climb to AUD $4.8bn: ICA
The Insurance Council of Australia reports that insured losses from extreme weather surged to AUD 4.8 billion (≈US$3.2 billion) in 2025, a 727% jump from the prior year. Claims exploded to 294,000 – six times 2024 – with Queensland alone responsible for over...
Fuse Unveils Watch, a Live Peril Dashboard for Commercial Insurance
Fuse International has launched Watch, an AI‑powered live peril dashboard for U.S. commercial insurance. The platform aggregates more than 18 hazard categories—tornadoes, floods, wildfires, earthquakes and more—into a single map refreshed as often as every ten minutes. It offers a...
At Least $115bn to $125bn of Cat Losses Needed to Shift Property Pricing Trajectory: Gallagher Re
Gallagher Re warns that only an exceptionally large catastrophe loss—estimated at $115 bn to $125 bn—could reverse the current softening of property insurance and reinsurance pricing. Q1 2026 saw insured natural catastrophe losses of $20 bn, 26% below the decadal average and 47%...
Bermuda’s SPI and Collateralized Insurer Uptake Maintains Momentum in Q1: BMA
Bermuda’s insurance market kept its growth trajectory in Q1 2026, adding seven new special purpose insurers (SPIs) and two collateralized insurers, according to the Bermuda Monetary Authority (BMA). The island’s insurance‑linked securities (ILS) funds now represent about 8% of all...
Insurance-Linked Securities Sector Can Be a Big Beneficiary of the AI Revolution: SIFMA
The SIFMA insurance‑linked securities (ILS) conference in Miami highlighted AI as a transformative force for the catastrophe‑bond market. Industry leaders such as Guy Carpenter’s Bobby Bray and Beazley’s Richard Gray said the sector is still in early adoption but sees...
‘Very Likely’ Cat Bonds Will Be Used to Source Risk Capital for Data Centre Build Out: John Seo
John Seo of Fermat Capital Management predicts catastrophe bonds will become a primary source of risk capital for the next wave of AI‑driven data centre construction. The $20‑30 billion facilities are being sited in the U.S. interior, shifting exposure from coastal...
Best of Artemis, Week Ending April 19th 2026
Artemis released its weekly "Best of" roundup, highlighting the ten most‑read articles on catastrophe bonds, insurance‑linked securities (ILS) and reinsurance capital for the week ending April 19, 2026. The pieces reveal accelerating cat‑bond issuance, new casualty sidecar structures, and strategic shifts such...
UK’s PRA to Continue Reforming ILS and Cat Bond Frameworks to Enhance Competitiveness
The Prudential Regulation Authority (PRA) announced that its 2026/27 business plan will keep advancing reforms to the UK insurance‑linked securities (ILS) and catastrophe‑bond frameworks. Building on earlier consultations, the regulator is targeting faster ISPV approval timelines—potentially as short as ten...
Twelve Securis and Bank J. Safra Sarasin Extend Distribution Partnership to Italy and Spain
Twelve Securis, a specialist in catastrophe bonds and insurance‑linked securities, has expanded its long‑standing distribution partnership with Bank J. Safra Sarasin to include Italy and Spain. The collaboration, dating back to 2011, already produced co‑branded funds such as the JSS Twelve Sustainable...
Aon Estimates Q1’26 Global Insured Catastrophe Losses of $20bn at Least
Aon reported that global insured catastrophe losses reached at least $20 billion in Q1 2026, 6% above the 21st‑century average, while total economic losses fell to $37 billion, the lowest since 2015. The United States contributed over 75% of insured losses, driven mainly...
Turicum Re 2026-1 Cat Bond Enables Zurich to Re-Establish Its Presence in Growing ILS Market: Mantero
Zurich successfully sponsored the $150 million Turicum Re 2026‑1 catastrophe bond, securing the upper‑end of its target size and pricing the notes about 7% below mid‑guidance. The fully collateralized, three‑year cat bond provides US named storm and earthquake reinsurance protection through April 2029. This...
Novelty Premium in Cyber Cat Bonds Has Reduced, but Not Completely ‘Gone Away’: AM Best
AM Best reports that the novelty premium on cyber catastrophe bonds is shrinking but remains present. Capacity in the 144A cyber cat‑bond market grew to $1.235 billion by year‑end 2025, driven by Beazley’s $300 million issuance and Chubb’s $150 million aggregate bond. Loss multiples...
Casualty Sidecar / ILS Market to Expand. Alignment, Maturity Driving Investor Interest: SIFMA
Casualty insurance‑linked securities and reinsurance sidecars are poised for rapid growth, according to speakers at the SIFMA ILS conference in Miami. About $1.5‑$2 billion of capital was deployed in these structures last year, and participants expect the market to double its...
Insurers Mull Leveraging Third-Party Capital to Write More Data Centre Business: GC’s Klisura
Guy Carpenter’s CEO Dean Klisura said insurers are looking to insurance‑linked securities to meet rising demand for data‑center coverage. The first quarter of 2026 saw $6.7 billion of new catastrophe‑bond capital, slightly below the $7.1 billion record from 2025. Guy Carpenter issued...
Nationwide Mutual Returns with $200m Target for Aquila Re I 2026-1 Catastrophe Bond
Nationwide Mutual Insurance Co. is re‑entering the catastrophe‑bond market with a target of at least $200 million in multi‑peril reinsurance through the Aquila Re I Ltd. Series 2026‑1 transaction. The deal will issue two $100 million tranches—Class A‑1 priced at 4‑4.75% and Class B‑1 at...
Tower Hill Lifts Winston Re 2026-1 Cat Bond Target to as Much as $375m
Tower Hill Insurance Exchange has increased its target for the Winston Re Ltd. Series 2026‑1 catastrophe bond to as much as $375 million, up from the original $225 million goal. The upsized issuance covers three tranches—Class A, B and C—with each tranche’s size and...
Ariel Re Secures $125m of Retro From First Titania Re Cat Bond to Use London Bridge 2 PCC
Ariel Re has priced its sixth catastrophe bond, securing $125 million of U.S. multi‑peril retrocession through the Titania Re 2026‑1 issuance. The deal uses the Lloyd’s‑backed London Bridge 2 PCC structure, marking the first time a Titania Re cat bond has employed this...
Cat Bond Market Fundamentals Are Tremendous. Growth Absolutely Expected & Sustainable: John Seo
John Seo, co‑founder of Fermat Capital, said the catastrophe bond market’s fundamentals are "tremendous" and that recent growth is both expected and sustainable. He highlighted the surge in US catastrophe insurance risk and a shifting institutional mindset that now treats...
Galapagos Capital SSPE Issues R$13.5m LRS, Its Second Under the Brazilian ILS Regime
Galapagos Capital’s Brazil‑based SSPE has issued a second Letra de Risco de Seguro (LRS) worth R$13.5 million (≈ $2.7 million), this time to guarantee a tax‑contingency that enabled an agribusiness M&A deal. The transaction was completed in just 20 days, underscoring the speed...
Enstar and Artex Partner on Exit Solutions for ILS Structures, Aim to Solve Trapped Capital Issue
Enstar and Artex Capital Solutions have teamed up to embed structured exit options within Artex‑managed insurance‑linked securities (ILS) vehicles. The partnership introduces forward‑exit and retrospective solutions designed to free up trapped capital that often locks investors’ funds in legacy reinsurance...
Moody’s Seeks Feedback on Pooled Structures of Insurance-Linked Securities (ILS)
Moody’s Ratings has released a discussion paper seeking market feedback on pooled structures of insurance‑linked securities (ILS). The agency wants input on investor appetite, risk‑assessment data needs, modeling approaches, and legal considerations for ILS‑backed securities that bundle multiple cat bonds...
AI Treated as Force-Multiplier for Cyber Losses. Introduces Aggregation, Correlation Risks: CyberCube
CyberCube warns that artificial intelligence is becoming a force‑multiplier for cyber losses, accelerating attack speed and scale. The firm says AI compresses the cyber‑attack lifecycle, making recovery capability a key loss driver. It urges insurers and reinsurers to embed AI‑specific...
Convex Targets $200m of Retrocession with Its Fourth Hypatia Catastrophe Bond
Convex Group is launching its fourth catastrophe bond through Bermuda‑based Hypatia Ltd., aiming to raise at least $200 million of retrocession. The Series 2026‑1 bond will provide aggregate industry‑loss‑triggered protection for U.S. hurricane and earthquake risks, with an attachment point of $150 billion...
Collateralised Fronting the Centrepiece of Hannover Re’s Broad ILS Offering: Sehm & Horstmann
Hannover Re has bolstered its insurance‑linked securities (ILS) platform with the launch of Hannover Re Capital Partners, a Bermuda‑based sidecar structure that began operations in early 2026. Executives Silke Sehm and Patrick Horstmann highlighted collateralised fronting as the firm’s largest...
NYC 100-Year Hurricane Insured Losses Could Reach $100bn, Says KCC
Karen Clark & Company warns that a 100‑year return period hurricane striking New York could generate over $100 billion in insured losses. The state holds roughly $9 trillion of insured property value, with $6 trillion concentrated along its coast. A rarer 250‑year event...
Catastrophe Bonds Highlighted as a Critical Tool for Impact-Focused Fixed Income
Catastrophe bonds, a subset of insurance‑linked securities, are gaining attention as an impact‑focused fixed‑income tool. As climate‑driven disasters increase, these bonds transfer disaster risk to capital markets, delivering rapid liquidity for sovereign and sub‑sovereign issuers such as Mexico and Jamaica....
Arch Capital’s Voussoir Re Sidecar Issues and Lists 2026-3 Preferred Shares
Arch Capital’s Bermuda‑based Voussoir Re sidecar has issued 1,000 Series 2026‑3 non‑voting, redeemable preferred shares, each with a $0.01 par value. The shares were privately placed with qualified investors and listed on the Bermuda Stock Exchange under sponsor Artex Corporate Services....