With 2025 setting new records for catastrophe bond issuance, the market is expected to maintain its strong momentum as it heads into 2026 as a resilient and growing asset class with strong technical underpinnings, Etienne Schwartz, CIO Liquid Strategies at ILS investment manager Twelve Securis told Artemis.
At this time of writing, cat bond issuance across 144A and private deals currently sits at $22.3 billion, but a number of new issuances are still scheduled to settle before the end of 2025, so we the year-end figure is expected to be meaningfully higher.
2025 is already a landmark year for the catastrophe bond market, and it will set a high benchmark for annual issuance for future years to try and beat.
As the year draws to a close, Schwartz spoke to Artemis to provide an end of year outlook for the catastrophe bond market as the industry begins to move into 2026.
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