Cat bond yields lower, but funds still track to 10%+

Even while the catastrophe bond market yield declines, many cat bond funds are still on-track for returns of 10% or higher this year ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Web version |  Update preferences |  Forward Cat bond yields lower, but funds still track to 10%+ UCITS cat bond funds average 9.60% return for 2025 after Nov, some funds hit double-digits Demonstrating that catastrophe bond fund returns remain very attractive, the average return for 2025 across UCITS cat bond funds reached 9.60% by late November with some funds already reaching double-digits. This remains strong performance for the cat bond fund sector, with many strategies set to beat their performance targets again this year. At the same time, the overall yield of the catastrophe bond market has continued to decline, albeit that the cat bond market insurance risk spread, or discount margin declined more slowly in the last month and more of an equilibrium may soon be reached. Read the full story. Other articles: ILS NYC 2026 – Only two months to go. Register soon if you want the Early Bird rate.   Germania Insurance to sponsor debut $100m Handshake Re catastrophe bond.   Allianz and Oaktree launch sidecar syndicate at Lloyd's, funded via London Bridge 2 PCC. Please share this with colleagues and friends if you think they would like to receive it. If you've been forwarded this but want to subscribe, visit Artemis.   You may be receiving this because you recently attended an industry event we partnered with, giving us permission to email you. If you don't want to receive our weekly ILS, catastrophe bond and reinsurance capital newsletter please Unsubscribe  or Edit your subscription here . © Steve Evans Ltd. - Artemis.bm

ILS NYC 2026: Only two months to go

Early Bird tickets are almost sold out for our next ILS market conference in New York ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Web version |  Update preferences |  Forward ILS NYC 2026: Only two months to go ILS NYC 2026 – Only two months to go. Register soon if you want the Early Bird rate There are now just under two months left to go until we return to New York on February 6th 2026 for the tenth insurance-linked securities conference in the ILS NYC series. Early Bird tickets are running very low for ILS NYC 2026 now, so to take advantage of what is the last discount available please register today to ensure it is available for you. Artemis ILS NYC 2026 will be held on February 6th 2026 at our usual venue in Midtown Manhattan, New York. We anticipate over 400 attendees again. Early Bird tickets are still available but these are now very limited in supply. So please register soon if you want to benefit from the best available rate to attend ILS NYC 2026. There are now representatives from over 125 organisations already registered to attend the conference, from across the insurance-linked securities, reinsurance and investor markets. In 2026 we return to New York City to host a full-day of detailed discussions on catastrophe bonds and the wider insurance-linked securities (ILS) market, while also exploring the future of the ILS industry. There will be plenty of time for valuable networking too, with long breaks, lunch and a cocktail reception at the end of the conference, all included in the price. We hope you can join us! Register today to secure the best available  rate to attend. True end-investors to the ILS asset class (so those typically paying fees rather than earning them) can contact us for free passes using the email address below.  Sponsorship opportunities are available. Contact events@artemis.bm. Please share this with colleagues and friends if you think they would like to receive it. If you've been forwarded this but want to subscribe, visit Artemis.   You may be receiving this because you recently attended an industry event we partnered with, giving us permission to email you. If you don't want to receive our weekly ILS, catastrophe bond and reinsurance capital newsletter please Unsubscribe  or Edit your subscription here . © Steve Evans Ltd. - Artemis.bm

Best of Artemis, week ending December 7th 2025

Catch up on our top stories of the last week ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Web version |  Update preferences |  Forward Best of Artemis, week ending December 7th 2025 Last week's top stories Early Bird rate tickets are selling fast! Chubb targets $150m East Lane cyber cat bond, the first to provide aggregate coverage Chubb is back in the catastrophe bond market seeking more cyber reinsurance from the capital markets, with an initial $150 million target for an East Lane Re VII Ltd. (Series 2026-1) issuance that could become the first cyber cat bond designed to provide annual aggregate cover for its sponsor. Beazley launches Bermuda platform with $500m to support ART / ILS expansion and growth Beazley, the London headquartered specialty insurance and reinsurance company, has made a significant commitment to the Bermuda marketplace with the deployment of $500 million of capital to establish a new platform on the island to drive growth and expansion into the alternative risk transfer market, including ILS opportunities. Shuriken Capital Management to launch as new ILS manager with Safepoint backing Shuriken Capital Management LLC is launching as a new insurance-linked securities investment manager. The firm has a mandate to allocate capital to catastrophe bonds and other collateralized reinsurance or ILS instruments, while it is supported and backed by Florida-headquartered Safepoint Holdings, Inc., the parent of Safepoint Insurance Company. Rates down 10-15% for "late" 1/1. Cat bonds down more. Floridians to benefit: Dittman and Seo Speaking during a panel discussion at the 2025 Florida Chamber Annual Insurance Summit last week, Chris Dittman of Aon's Reinsurance Solutions and John Seo of Fermat Capital Management highlighted that meaningful softening in catastrophe reinsurance rates and the cost of risk capital is expected to flow to the benefit of Floridians in time. Artemis Deal Directory surpasses $200bn of catastrophe bonds and related ILS With catastrophe bond market activity having accelerated to record highs in 2025, our extensive Artemis Deal Directory has reached a new milestone, with now over $200 billion in catastrophe bonds and related insurance-linked securities tracked and analysed since its inception. PGGM / PFZW lift target ILS allocation range for PartnerRe's Huygen sidecar PGGM, the Dutch pension fund investor that invests in insurance-linked securities and reinsurance on behalf of its end-client Dutch pension PFZW, has revealed a meaningful increase in the target allocation size for its investment into the PartnerRe operated Huygens sidecar structure. Caterina hires Anthony Russo from Swiss Re as Chief Product Officer and Interim COO Caterina Technologies, Inc., a quantitative applied research and development firm building financial technology infrastructure with its initial focus on the catastrophe bond and insurance-linked securities (ILS) sector, has announced the hiring of senior Swiss Re ILS focused product and strategy leader Anthony Russo. King Ridge Cat Bond UCITS ETF launches as first cat bond fund with lead market maker King Ridge Capital Advisors LLC, the specialist insurance-linked securities (ILS) investment manager, has launched its awaited UCITS exchange traded catastrophe bond fund (ETF) in partnership with UCITS ETF white-label platform provider HANetf, with the strategy already having a designated lead market maker in place. US property cat reinsurance rates to see "minor decline" at 1/1: AM Best While moderate softening in U.S. property catastrophe reinsurance rates has been observed throughout 2025, rating agency AM Best projects that further stabilisation or minor price shifts will take place at the upcoming January renewals. Migdal Insurance secures $100m Turris Re Israel quake cat bond debut Migdal Insurance Company Ltd. has now successfully secured its targeted $100 million of earthquake reinsurance covering exposures in Israel from its debut Turris Re Ltd. (Series 2025-1) catastrophe bond transaction. Featured Conferences & Events Artemis ILS NYC 2026 - February 6th, 2026, New York City   We return to our usual venue in Midtown NYC on February 6th 2026, for the next installment of our popular ILS NYC event. We will have space for up to 450 attendees to join us. Early Bird tickets are still available, but selling fast! Secure your place at ILS NYC 2026! Reinsurance News Reinsurance News is a our sister service which delivers the reinsurance news that matters directly through our responsive website and by email to your inbox. This single daily email contains the most important reinsurance news, hand selected by an experienced team of researchers and journalists with years of reinsurance industry experience. Sign up here to receive your daily Reinsurance News. Stay in touch with Artemis Please get in touch if you would like to submit news, events or information for publication. We welcome submission of useful market data which we can publish to help expand your reach. Advertising and sponsorship opportunities are available. With a large audience of 60,000+ readers every month Artemis is the perfect place to showcase your specialty to ILS industry professionals. Contact us for more details. You can unsubscribe from these newsletters at any time using the link at the foot of this email. We hope you won't and promise to only send market update and news, or relevant updates related to our services. Best wishes and enjoy Artemis. Steve Evans. Owner, Editor - Artemis E-Mail: steve@artemis.bm Tel: +44(0)7711-244697 If you enjoy this newsletter and find it useful please pass it on and share it with your colleagues. If you've been forwarded this but want to subscribe, visit artemis.bm.     Our Sponsors               ADVERTISE YOUR BRAND OR SERVICES HERE DEAL DIRECTORY View details of over 1,000 catastrophe bonds and related ILS deals CHARTS & VISUALISATIONS View our range of catastrophe bond market charts and visualisations CAT BOND MARKET REPORTS Download our quarterly cat bond market reports VIDEOS & PODCASTS Watch video interviews, panel discussions and listen to our podcast EVENTS CALENDAR View details of and register for our next ILS market conferences

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