Migdal Insurance Company Ltd., an Israeli insurance, pension and financial service company, is the latest first-time sponsor entrant to the catastrophe bond market, as it targets $100 million of earthquake reinsurance covering exposure in Israel through a new Turris Re Ltd. (Series 2025-1) transaction, Artemis understands from sources.
This year has seen an influx of first-time cat bond sponsors to the market, with 11 having deals that have already issued and settled, while one more is currently in the issuance process.
But this one is also bringing an entirely new peril category to catastrophe bonds, as Migdal Insurance seeks capital markets backed reinsurance protection against earthquakes in Israel, Artemis has learned.
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