Brazil’s ILS structure opens a new chapter for its re/insurance market: Fitch
Following the completion of Brazil’s first-ever insurance-linked securities (ILS) issuance earlier this year, analysts at Fitch Ratings have highlighted how the country’s ILS framework marks the beginning of a new chapter for its re/insurance market. Back in May, Brazilian reinsurer IRB (Re), via its wholly owned subsidiary, Andrina Special Purpose Insurance Entity (SSPE) sponsored the country’s […]
Third-party capital projected to grow 7%, hit $114bn in 2025: AM Best & Guy Carpenter
According to the latest projection from rating agency AM Best and broker Guy Carpenter, third-party capital deployed in reinsurance is anticipated to grow by almost 7% this year, projected to end the year at a new high of $114 billion. Third-party capital, that largely represents the capacity deployed by insurance-linked securities (ILS) fund managers and […]
Cat bonds deliver in 2025. Demonstrate low correlation, spreads exceed high yield: Swiss Re
The catastrophe bond asset class continued to deliver for its investors through the first-half of 2025, exhibiting low correlation with broader financial markets, while spreads continue to track at levels that exceed those seen in high yield benchmarks, Swiss Re Capital Markets has reported. In its latest Insurance-Linked Securities Market Insights report, the Swiss Re […]
Catastrophe Bond Market Surges to Near-Record Heights Despite Natural Disaster Impact
Strong investor appetite drives $17 billion in issuances in H1 2025 as total CAT bond market size reaches $56 billion milestone, Swiss Re reports. The catastrophe bond market has achieved remarkable growth in the first half of 2025, with issuance surpassing $17 billion across nearly 60 transactions to become the second-largest year since the market’s […]
UNDRR proposes disaster resilience adaptation financing structure, with ILS investment vehicle
The United Nations Office for Disaster Risk Protection (UNDRR) has published details of a proposal for a high-level Disaster Resilience Adaptation Financing (DRAF) structure that features an insurance-linked securities (ILS) vehicle, to support disaster risk insurance coverage and resilience adaptation financing. In a commentary authored by Alissa Legenza and Shaun Tarbuck, members of the UNDRR’s […]
Cat bond market momentum positions 2025 for exceptional year of issuance: Swiss Re
Catastrophe bond market momentum is anticipated to continue through the second-half of 2025, which added to a significant record set for the first-half leads Swiss Re Capital Markets to say the cat bond sector is positioned for an exceptional year of issuance. Publishing its H1 2025 ILS Market Insights report today, Swiss Re Capital Markets […]
CNBC: Catastrophe bond sales are having a major moment
Key Points: FULL ORIGINAL PUBLICATION HERE
California utility LADWP seeks third wildfire cat bond, up to $150m 123 Lights Re
The Los Angeles Department of Water and Power (LADWP), the largest municipal utility operating in the United States, has returned to the catastrophe bond market for its third time, seeking up to $150 million of wildfire protection from a 123 Lights Re Ltd. (Series 2025-1) issuance, Artemis has learned. Previously, the Los Angeles Department of Water and […]
UK ILS reforms more likely to take activity from other jurisdictions than generate net-new: Fitch
The recently announced consultation on reforming the United Kingdom’s insurance-linked securities (ILS) risk transfer regulations is more likely to result in activity being taken by the UK that would have been booked in other jurisdictions, than to generate net-new ILS business, commentary from Fitch Ratings states. Fitch has commented on the UK government proposals to […]
Issuance of multi-country cat bonds can help Southeast Asia manage disaster costs: OECD
A recent paper authored by Kensuke Molnar-Tanaka, OECD Development Centre and Yang-Che Wu, Feng Chia University explores how the issuance of multi-country catastrophe bonds can enhance disaster cost management in Southeast Asia. The study, titled “Disaster risk-sharing pools and multi-country catastrophe bonds in Southeast Asia” highlights how many countries across Southeast Asia are prone to disasters and […]