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Cat bond market sees record first-time sponsors in Q2 2026
Artemis data shows nine new entrants launched debut catastrophe bonds in Q2 2026, topping the prior Q2 record of eight, as legal documentation and execution processes have become more streamlined.
Catastrophe bond and insurance-linked securities (ILS) activity kept building momentum into 2026, with nine new sponsors placing debut cat bonds in the second quarter, a record that surpassed eight first-time sponsors seen in both Q2 2025 and Q2 2007, according to Artemis.
Speaking with Artemis ahead of its Q2 catastrophe bond and related ILS market report, Brad Adderley, a partner at Appleby, said sponsors want a seamless first experience because cat bonds are now executed more frequently and the overall setup process is smoother than it used to be.
Adderley added that he is hearing fewer issues about flawed structures or settlement problems, and more sponsors returning to renew expiring deals as a result of improved execution, along with simpler legal documentation and clearer market language.
Artemis also noted the broader backdrop: H1 2026 set a record for the most catastrophe bond deals to come to market and settle in the first six months of the year.