With the settlement today of two new catastrophe bonds, the 144A marketplace for new cat bond issuance has now just reached the $20 billion milestone in 2025, while including private deals the total amount of settled issuance tracked by Artemis this year is now $20.62 billion.
$20 billion of full Rule 144A catastrophe bonds is a significant new annual issuance milestone in this segment of the insurance-linked securities (ILS) marketplace.
Of course, with a pipeline that still includes at least $2.565 billion of new 144A cat bond issuance still scheduled to settle before the end of 2025 at this time, the annual total will be much higher.
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