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Catastrophe bonds

Cat bond issuance rises 40% to surpass $23bn in record-setting 2025

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Cat bond market growth has exceeded broker-dealers' 2025 forecasts by some distance.
Jai Singh, 22 December 2025
  • Renewals
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    Retro writers face steep price falls as hard market dynamics collapse
    The vehicle will now cover an E&S program jointly launched with Accredited.
    22 December 2025
  • Commercial Lines
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    AIG and Amwins to form special purpose vehicle Syndicate 2479
    The SPV will underwrite a “broad and highly diversified” portion of Amwins’ ~$6bn delegated authority premiums.
    19 December 2025
  • London market
    Al Wathba first UAE insurer to access Lloyd’s via London Bridge Two PCC
    22 December 2025
  • Catastrophe bonds
    Farmers closes $400mn cat bond with drop-down providing treaty alignment
    19 December 2025
  • Capital raising
    Scor renews EUR300mn contingent capital facility with JP Morgan
    18 December 2025
  • M&A
    Howard Hughes to buy Vantage for $2.1bn
    18 December 2025
  • Catastrophe bonds
    Azimut UCITS targeting $200mn-$250mn of assets by end of next year
    17 December 2025
Opinion
Opinion
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    Investing in cyber cat gives Beazley options around growth
    Liz Bury
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    The carrier-plus model is coming to the fore
    Fiona Robertson
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    As the fundraising outlook brightens, managers’ focus is turning to how they will navigate rate reductions
    Liz Bury
Featured and most read

Featured and most read

Featured
Capital raising

Review of the year 2025: ILS moves up another gear

The industry has continued to build and innovate through a third strong year of performance.
Liz Bury, 15 December 2025
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Most read
  • Cat bond issuance rises 40% to surpass $23bn in record-setting 2025

  • Farmers closes $400mn cat bond with drop-down providing treaty alignment

  • AIG and Amwins to form special purpose vehicle Syndicate 2479

  • Scor renews EUR300mn contingent capital facility with JP Morgan

  • Howard Hughes to buy Vantage for $2.1bn

  • Azimut UCITS targeting $200mn-$250mn of assets by end of next year

Analysis
Analysis
Cat Bond Weekly
cat bond weekly briefing
Cat bond market prices $1.6bn of limit in mid-December
CA Fairplan’s Golden Bear Re deal upsized 200% to $750mn.
Jai Singh, 15 December 2025
Cat Bond Weekly
cat bond weekly briefing
Five sponsors offer $950mn in cat bonds in week to 8 December
Migdal Insurance placed its debut cat bond Turris Re for $100mn of quake limit.
Jai Singh, 08 December 2025
ILS managers
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Diversifying risk and fronting among key Lloyd’s benefits for ILS players
There are various routes for ILS managers wanting to access the diversity of Lloyd’s underwriting.
Jai Singh, 08 December 2025
Catastrophe bonds
cat bond weekly briefing
Cincinnati Insurance offers new bond as deal flow slows
North Carolina Farm Bureau raised $500mn with its latest Blue Ridge Re cat bond deal.
Liz Bury, 01 December 2025
Conferences & awards
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26 March 2026
EY, London

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April 23 2026
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ILS Connect 2026 | Add to calendar

10 June 2026
London Marriott, Grosvenor Square

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ILS Awards 2026 | Add to calendar

10 June 2026
London Marriott, Grosvenor Square

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Insurance Insider Honours 2026

2 September 2026
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Insurance Insider US Honors 2026 | Add to calendar

September 30 2026
Ziegfeld Ballroom, New York

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Upcoming webinars

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    In Partnership with Moody's
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    31 October 2025
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    [Webinar] P&C outlook: What 2025 revealed and what 2026 holds
    24 November 2025
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    25 November 2025
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