UK Gov confirms new cat bond, ISPV timelines. Launches new consultation to enhance ILS regime

The Government of the United Kingdom has confirmed new authorisation targets for new insurance special purpose vehicle (ISPV) applications, as well as a 10-day target for certain insurance-linked securities (ILS) arrangements, while also launching a new consultation on a more flexible and extended risk transformation regime. As we reported back in November 2024, the UK’s Prudential […]

UK Government confirms plans for captive insurance regime

In the wake of a consultation on the creation of a captive regime in the UK, the UK Government, working closely with the financial regulators, has announced that it intends to proceed with the introduction of a new UK captive insurance framework. The government’s view is that a new captive insurance framework will help cement […]

BIS: Incorporating physical climate risks into banks’ credit risk models

Summary Focus The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, has agreed to prioritise further analysis on the financial risk implications of extreme weather events and tasked the Basel Committee with analysing the impact of such events on financial risks. However, a […]

Catastrophe bond issuance breaks annual record already in 2025 at over $17.8bn

Catastrophe bond issuance has already beaten the headline annual record in 2025, as new deals have taken the figure to over $17.8 billion, beating last year’s record and putting the $20 billion milestone clearly in sight, according to Artemis’ data on the market. The record for annual catastrophe bond issuance, by Artemis’ data, fell at the […]

Cat bond yields rise above 11%, discount margin to decrease through wind season: Plenum

The overall yield of the catastrophe bond market increased to above the 11% mark in June 2025, the first time it has surpassed that level since October 2024, but with the hurricane season now underway the expectation is for the discount margin to decrease, according to cat bond fund manager Plenum Investments. Catastrophe bond market yields reached […]

World Bank panel highlights ‘astronomical growth’ of cat bond market

The catastrophe bond market is undergoing a dramatic transformation, marked by record-breaking growth, expanding risk coverage, and rising global participation. These themes were explored by industry leaders during a panel session at the World Bank’s Innovating for Impact: Scaling Outcome Bonds and Catastrophe Bonds event in Luxembourg. Moderated by Alexandre Delacroix, Executive Director at reinsurance broker Gallagher […]

IDB targets capital markets to expand disaster risk coverage across LatAm & Caribbean

The Inter-American Development Bank (IDB) and IDB Invest have unveiled a major expansion of disaster risk financial instruments designed to enhance the use of reinsurance and the capital markets for risk transfer across Latin America and the Caribbean. Central to this initiative is a newly launched Regional Disaster-Risk Transfer Program that facilitates sovereign access to […]

Swiss Re targets $65m retro wind / quake cover with Matterhorn Re 2025-2 cat bond

Global reinsurance company Swiss Re has returned to the catastrophe bond market for the second time this year, aiming to secure $65 million or more in North American earthquake and named storm retrocession from investors, through a Matterhorn Re Ltd. (Series 2025-2) transaction, Artemis has learned. This issuance will be the thirteenth takedown under Swiss Re’s Matterhorn […]