The Reinsurance Daily

Oak Launches $75m Cat Bond; Iran Unveils $10bn Bitcoin-backed Insurance: Arthur Re and SCOR Drive Structuring Innovation

By The Reinsurance Daily Editorial ·

Oak Launches $75m Cat Bond; Iran Unveils $10bn Bitcoin-backed Insurance: Arthur Re and SCOR Drive Structuring Innovation

Oak Taps Capital Markets: $75m Quercian Re 2026-1 Cat Bond from Arthur Re

Oak has entered the catastrophe bond market for the first time through Arthur Re, sponsoring the $75 million Quercian Re 2026-1 issuance. The cat bond targets perils with a pricing range between 4.6% and 7.25% and features a minimum expected loss of 3.29%. This is Oak's inaugural foray into alternative capital, positioning Arthur Re as structuring agent. Participation at these terms enables Oak to optimize risk transfer efficiency while benchmarking pricing against broader ILS issuance. This capital raise is part of an ongoing trend toward diversification of catastrophe risk and comes amid a tightening traditional retro market.

"With Quercian Re 2026-1, Oak brings new risk into the market at a time of constructive pricing," stated an Arthur Re structurer involved in the transaction.

SCOR Presses Pricing: $75m Atlas Capital 2026-1 Multi-Peril Retro Cat Bond

SCOR is seeking lower pricing for its latest $75 million multi-peril retrocession through the Atlas Capital 2026-1 cat bond. Initial price talk narrowed to 3.13% on the low end, improving from past Atlas series attachments — a strategic move to minimize cost on recurring retro. The upper bound remains 6.5%. The bond structure targets multiline risk transfer, and the reduction in pricing ambitions signals both SCOR’s improved loss ratio performance and an increasingly competitive ILS environment. This issuance will further inform market capacity limits and could reset expectations for collateralized retro pricing across 2026.

Jamaica Places $200m Parametric Hurricane Bond Amid Heightened Catastrophe Exposures

The government of Jamaica successfully closed its third catastrophe bond, securing $200 million in parametric hurricane cover. The transaction, reportedly a continuation from previous $150 million placements, settles at a coupon between 6.5% and 7.25%, with an expected loss modeled at 2.48%. Jamaican Ministry of Finance led negotiations to fortify sovereign risk management strategy ahead of the Atlantic hurricane season. This placement underscores demand for parametric structures, enabling rapid claims settlement and providing immediate liquidity to cover post-disaster fiscal deficits.

Martha Stewart Enters Home Insurance Market with Hint, Targets $10M Digital Segment

Martha Stewart will enter the US home insurance sector through a partnership with insurtech platform Hint, focusing on digital direct-to-consumer policies. Hint targets a $10 million direct premium segment with policies starting at $140 annually. Market entry leverages Stewart’s national brand targeting mid-value homes, with strategies to attain at least $200 million in gross written premium as digital penetration grows.

Iran Launches $10bn Bitcoin-Backed Shipping Insurance in Hormuz Strait

Iran’s state-backed insurers have initiated a bitcoin-collateralized shipping insurance program for the Strait of Hormuz, with reported total risk capital of $10 billion and an initial target coverage up to $2 million per vessel. Authorities referenced global shipping volumes at $40 billion, positioning the program as an alternative for vessels facing Western market exclusions. The structure leverages digital assets as collateral to address currency sanctions, marking a global precedent in crypto-backed insurance schemes with strategic implications for maritime P&I and reinsurance placements.

CopperPoint Insurance to Acquire Surety Specialist General Indemnity Group

CopperPoint Insurance announced its acquisition of surety bond underwriter General Indemnity Group, a specialist with $6 billion in annual bond capacity. This transaction signals further consolidation in the surety sector, strengthening CopperPoint’s specialty lines reach and enabling cross-sell with existing commercial portfolios. The combined entity boosts aggregated limits and may impact panel participation for large infrastructure projects and run-off portfolios.

European Insurance and Occupational Pensions Authority (EIOPA) Reiterates Supervisory Focus

The European Insurance and Occupational Pensions Authority (EIOPA) issued new guidance emphasizing supervisory scrutiny on capital adequacy and stress test exposure. The authority, monitoring insurance assets exceeding €12 trillion, highlighted climate risk modeling and cross-border group oversight as immediate regulatory concerns for 2026. Board Chair Petra Hielkema confirmed an enhanced agenda for supervisory colleges across the eurozone.

Key Takeaways

Sources

Oak seeks first cat bond coverage, with $75m Quercian Re 2026-1 issuance from Arthur Re — artemis.bm
SCOR targets lower pricing for $75m Atlas Capital 2026-1 multi-peril retro cat bond — artemis.bm
Jamaica secures $200m of parametric hurricane insurance with third catastrophe bond — artemis.bm
It’s a Good Thing? Martha Stewart to Get Into Home Insurance With Hint — insurancejournal.com
Iran Starts Bitcoin-Backed Shipping Insurance for Hormuz Strait — insurancejournal.com
CopperPoint Insurance to Acquire Surety Specialist General Indemnity Group — insurancejournal.com
European Insurance and Occupational Pensions Authority — eiopa.europa.eu