A new report from analysts at J.P. Morgan has suggested that while the catastrophe bond market has witnessed exceptional growth in 2026, insurance-linked securities (ILS) and alternative capital are looking more disciplined, exhibiting few of the undisciplined behaviours witnessed in the last soft market.
Coming off a remarkable 2025, the catastrophe bond market has managed to break new records in 2026.
As highlighted in Artemis’ Q2 2026 Cat Bond & ILS market report, the second quarter of 2026 marked the largest ever quarter recorded for cat bond issuance, as it became the first-time quarterly issuance surpassed $11 billion, beating the previous record set in H1 2025 by over $842 million.
Q2 2026 also featured the largest month of cat bond issuance since Artemis began tracking the sector, as the record 20 deals completed in May brought almost $7 billion of risk capital to market.
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