One of many imperatives for development of the disaster bond market has at all times been the onboarding of latest first time cat bond sponsors into the market and Artemis’ information signifies over 40 have been added to our catastrophe bond sponsor leaderboard in simply over three years.
Proper now there are 110 named catastrophe bond sponsors in our leaderboard chart.
This interactive leaderboard displays every cat bond sponsor with an issuance in the outstanding market at this time, detailing the greenback worth throughout their excellent cat bond points, in addition to the variety of points and tranches included.
This leaderboard has expanded significantly over the previous couple of years, as the cat bond market has expanded in size.
We took a glance again at how the sponsor-base of the disaster bond market has grown and might see that within the fourth-quarter of 2021 we had simply 70 named sponsors listed.
As just a few new sponsors got here to the market in that quarter as properly, it suggests the sponsor-base truly grew by greater than 40 over the next interval, which suggests the disaster bond sponsor-base has expanded by a powerful 57% in simply over three years.
Over that interval, catastrophe bond risk capital outstanding in the market has grown by roughly 38%.
The variety of names in our disaster bond sponsor leaderboard was decrease at simply over 60 across the center of 2020, however had stood at 68 across the center of 2019.
Calendar years 2021 by way of 2024 truly noticed 51 first time cat bond sponsors come to market throughout that interval, however a quantity have seen their first offers mature with none renewal or additional issuances, up to now.
This era and the brand new sponsors which were delivered to the cat bond marketplace for the primary time has been a vital issue within the development we’ve seen in the size of the outstanding market.
In fact, alongside these new and first time cat bond sponsors, the repeat sponsors that deliver new cat bonds to market recurrently, renewing the reinsurance protection they supply generally, are in fact a key driver for market development alongside the introduction of latest companies.
With these long-standing and repeat disaster bond sponsors in thoughts, it’s no shock that the highest names in our cat bond sponsor leaderboard are all prolific patrons of cat bond safety (click on the picture under to see the interactive leaderboard).
Topping the leaderboard presently is US insurer Allstate, with simply over $3.26 billion of threat capital throughout its excellent Sanders Re disaster bonds.
Second in our listing is USAA with $2.65 billion of Residential Re offers excellent and third State Farm with $2.25 billion of Merna Re cat bonds.
In fourth is the Texas Windstorm Affiliation (TWIA) with $2.1 billion of Alamo Re cat bonds, adopted by the California Earthquake Authority (CEA) with $2.055 billion of Ursa Re and Sutter Re issuance.
The CEA is more likely to soar increased up the listing quickly, because it has a new cat bond with a $200 million target size available in the market presently.
This interactive catastrophe bond sponsor leaderboard is an effective way to remain updated on who probably the most prolific sponsors of cat bonds are, in addition to the growing depth of the market and its sponsor-base.
The expansion within the cat bond sponsor-base is testomony to the growing acceptance of cat bonds as a substitute sources of threat switch and reinsurance capital, in addition to the work of the broking and ILS supervisor communities in selling disaster bonds to insurers, reinsurers and different sponsor varieties.
Download our free quarterly catastrophe bond market reports.
We monitor catastrophe bond and related ILS issuance data, probably the most prolific sponsors in the market, most lively structuring and bookrunning banks and brokers, which risk modellers feature in cat bonds most frequently, plus a lot more.
Find all of our charts and data here, or by way of the Artemis Dashboard which offers a helpful one-page view of cat bond market metrics.
All of those charts and visualisations are up to date as quickly as a brand new cat bond issuance is accomplished, or as older issuances mature.
