Cat Bonds
State insurance regulators are conflating two distinct problems and reaching for an instrument that makes both worse, Aon climate risk advisory head Liz Henderson told the NAIC Climate Resilience Task Force in San Diego this week, arguing that rate suppression destroys the pricing signal the market depends on to track where climate risk is heading.
The North Carolina Insurance Underwriting Association received a $2.07 million rebate earlier this month through the resilience trigger in its catastrophe bond after benign U.S. named storm activity in 2025, GC Securities managing director Cory Anger said on Tuesday.
The insurance-linked securities (ILS) market is expected to continue expanding in 2026, although growth is likely to slow from the strong pace seen last year as abundant capital begins to weigh on returns, according to a report from AM Best.
SageSure Holdings and Auros Reciprocal Insurance Exchange (Auros) have closed the $175 million Gateway Series 2026-2 catastrophe bond in its 13th issuance under the franchise.
The increasing amount of cyber catastrophe bond transactions and growing maturity of the cyber peril means scepticism around cyber modelling is reducing, Ali Afsar, director, product manager for cyber solutions at Moody's Analytics has said.
Humanitarian organisations are increasingly exploring catastrophe bonds as alternative sources of financing but this raises questions around appropriate costs, attachment points and limits for non-peak perils and zones, a Global Parametrics white paper has said.
CDK Global could become the first cyber event to breach CyberAcuView's $500 million reporting threshold, the industry consortium's CEO Mark Camillo said, as the organization tracks a growing list of aggregation events that are consistently taking longer to develop to ultimate loss than initial estimates suggested.
Insurance-linked securities issuance rose to a record $24.7 billion in 2025 following a rebound in activity in the fourth quarter, a report published by Swiss Re said on Monday.
Catastrophe bonds cemented their role as a core component of reinsurance programs in 2025 as issuance hit record levels and investor appetite across insurance-linked securities (ILS) strengthened, according to Howden Capital Markets & Advisory.
Alternative capital has become a primary source of capital for reinsurers as the insurance-linked securities market expands through growth in catastrophe bonds and sidecars, Richard Pennay, chief executive officer of Aon Securities, said at the Fitch Ratings Insurance Insights 2026 North America event on Wednesday.
