Private catastrophe bond issuance in 2025 has now surpassed the full-year total from 2024, as three new series of notes issued by the Eclipse Re Ltd. transformer vehicle have come to light and taken this year’s figure to over $465 million.
2024 saw a dip in the volume of issuance coming from private catastrophe bonds, or cat bond lite structures, that we recorded during the year.
That doesn’t reflect full issuance of these types of insurance-linked securities (ILS) deals though, as we can only report on those we see details of and a lot of these smaller ILS issuances are very privately transacted and placed with investors.
The full-year 2024 total for private cat bonds tracked by Artemis was $455.52 million.
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