Here's our latest Friday wrap-up of key news from the week.
Catastrophe bond market activity remains at record pace.
This week we've reported on three more new deals that have joined the cat bond market pipeline: a new 3264 Re retro bond for Hannover Re; a new Lion Re DAC green cat bond for Generali; and a new Mayflower Re for residual market the MPIUA.
In addition, Palomar secured its largest cat bond yet as the Torrey Pines 2025-1 deal priced to provide it $525m of reinsurance.
Utica National secured its first cat bond 21% upsized at $150m.
USAA is aiming to upsize its new cat bond slightly as well, as too are the US Coastal insurers with their debut.
Florida Citizens could secure the largest cat bond ever issued, as the size target rose to as much as $1.525bn for its new Everglades deal. At that level, cat bonds could make up 70% of Citizens reinsurance for 2025.
Execution remains attractive for sponsors, with deals still upsizing and pricing down. We looked at the trends from Q1 cat bond issuance in this article.
Also this week, we added a chart that allows you to analyse the trend in new sponsors entering the cat bond market for the first time. We hope you find it useful.
Registration is still open for our cat bond and ILS market conditions at mid-year 2025 live webinar. Sign up to attend.
In other stories this week, private ILS funds averaged a slightly higher return than pure cat bond funds in March 2025.
Howden Re said availability of retrocession must increase to support cyber market growth.
The broker's data shows that cyber catastrophe bonds could outperform, in terms of delivering recoveries for major cyber loss events.
Martin Rea, Senior Consultant at JANA Investment Advisers said cat bonds provide a compelling source of diversification and income at this time.
Arch Capital's CEO says downward repricing in the catastrophe bond market is creating pressure at the top of reinsurance programs.
Allstate renewed a larger Nationwide reinsurance tower and also placed its aggregate cat bond coverage a little higher up for the next year.
The Bermuda market is set to pay a significant ~$10bn in claims for the Calfiornia wildfires, with more to add to that figure from the ILS structures located there.
Finally, if you haven't seen them, Artemis has a wealth of data and analytics on the catastrophe bond and broader ILS market. View our charts and Deal Directory.
Catch up on our video interviews with ILS market leaders here.
If you prefer to listen, subscribe to our podcast series for audio interviews & additional special episodes.
We'll be back next week with more regular coverage.
We hope you have a safe & relaxing weekend.
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