Here's our latest Friday wrap-up of key news from the week.
The cat bond market pipeline continues to build, with three new deals added this week.
First, investment manager Integral ILS entered the market seeking $200m of named storm retro through Windrose Re Ltd.
Then, SageSure came back targeting $765m of broad multi-peril reinsurance from its latest Gateway Re deal.
Today, Swiss Re joined the pipeline with a new Matterhorn Re deal that targets $125m in aggregate and subsequent event retrocession.
Having previously analysed full-year 2025 cat bond market records, we analysed the fourth-quarter to explain that a number of records were set in the final months of the year as well.
This week we reported on the 2025 performance of the Swiss Re Cat Bond Index, which delivered a 11.40% return for 2025.
Florian Steiger, CEO of Icosa Investments said that market dynamics witnessed in 2025 suggest that the cat bond sector is likely to continue growing.
This week we revealed the finalised agenda for our upcoming ILS NYC 2026 conference. Please note: Tickets are running very low!
In other stories this week, for the first time in a number of years the London Stock Exchange became home to an insurance-linked securities fund strategy again.
We reported that Swiss Re returned capital to investors from its loss affected mortality cat bond issued under Matterhorn Re, with $46.9m to be returned after the rest of the principal was recovered under the retro aggreement.
The Bermuda Stock Exchange remains the dominant location for listing cat bonds and other ILS structures, growing its listings for this asset class to $65.2bn.
Retrocession renewed very late at the January renewals, while frequency covers returned, Gallagher Re said.
Swiss Re and GAM Investments have affirmed their commitment to continue developing new products and identifying opportunities within the ILS market.
Beazley's Head of Third-Party Capital Richard Gray is becoming General Manager of Bermuda and relocating to the island, which will see him running the new cyber ILS operation there.
GC Securities execs told us in an interview that the firm is placing significant emphasis on the sidecar sector for 2026.
A notable surge in secondary catastrophe bond market trading in the final days of 2025 suggests a "robust year-end repositioning", according to Azimut Switzerland SA's Isacco Loconte.
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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