Catch up on our top stories of the last week
Best of Artemis, week ending May 24th 2026
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Super Early Bird tickets running low!
- State Farm gets $1.5bn of reinsurance with Merna Re Enterprise II 2026-1 catastrophe bond
State Farm returned to the catastrophe bond market in recent weeks and has now secured a significant $1.5 billion of reinsurance protection through a Merna Re Enterprise II Ltd. (Series 2026-1) issuance, which becomes one of the largest cat bond offerings ever.
- NOAA forecasts 55% chance of below-normal Atlantic hurricane season, as El Nino nears
NOAA anticipates an 82% chance of El Niño between May to July and with the warm phase of the El Niño-Southern Oscillation seen to moderate tropical activity in the Atlantic, the first forecast from NOAA for the 2026 Atlantic hurricane season is for a 55% chance of below-normal activity levels.
- Jamaica secures $200m of parametric hurricane insurance with third catastrophe bond
The Government of Jamaica has now successfully secured its one-third upsized target of $200 million of parametric named storm and hurricane insurance protection from its new World Bank facilitated IBRD CAR Jamaica 2026 catastrophe bond issuance, pricing the coverage within guidance, while ILS funds were the main supporters of this deal.
- Oak seeks first cat bond coverage, with $75m Quercian Re 2026-1 issuance from Arthur Re
Oak Global, the specialist Lloyd’s underwriting company, is in the catastrophe bond market as a sponsor for the first time seeking protection from the capital markets through a $75 million 144A issuance of Arthur Re Ltd. – Quercian Re 2026-1 cat bond notes.
- 60% of institutional investors intend to increase ILS allocations: Gallagher Securities survey
A survey of institutional investors recently undertaken by Gallagher Securities found that 60% are intending to increase their allocations to insurance-linked investments, with catastrophe bonds and similar insurance-linked securities (ILS) seen as the main type of assets in focus.
- Florida insurers to benefit from more pronounced June reinsurance renewal softening: AM Best
Property insurers in the State of Florida are expected to benefit from a more pronounced softening of reinsurance pricing and rates at the June 1 2026 renewals, which may serve to sustain the positive market momentum being seen since the legislative reforms, AM Best has explained.
- TWIA’s fully-committed $2.28bn reinsurance renewal the “optimal structure at the lowest price”
The Texas Windstorm Insurance Association’s (TWIA) reinsurance renewal for 2026 is fully-committed by markets and expected to be signed in the next couple of days, while Allen Cashin of Gallagher Re said that the competitive auction-like process the broker employed has resulted in the “optimal structure at the lowest price.”
- atmencapital plans to launch first UCITS cat bond fund regulated in France
With the catastrophe bond asset class continuing to gain awareness and traction across investors worldwide, atmencapital is the first asset manager to plan to launch a UCITS catastrophe bond fund that will be domiciled and regulated in France.
- NCDEX launches India’s first exchange-traded parametric weather derivative RAINMUMBAI
The National Commodity and Derivatives Exchange (NCDEX) has now launched India’s first parametric weather derivative product, with the RAINMUMBAI contract expected to help market participants hedge the financial exposure of rainfall extremes and variability in the city of Mumbai and surrounding area.
- Ariel SSPE launching as third Brazilian insurance-linked securities structure
Ariel Sociedade Seguradora de Propósito Específico S.A. (Ariel SSPE) will be the third insurance-linked securities (ILS) structure in Brazil, harnessing the country’s regulations to become an independent issuer of Letra de Risco de Seguro (Insurance Risk Letters), Brazil’s own brand of ILS instrument.
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