Global reinsurer Ariel Re, the largest writer of property catastrophe reinsurance at Lloyd’s, sponsored its 5th catastrophe bond, Titania Re 2025-1, securing $150 mn of multi-peril retrocessional reinsurance protection over four years.
The bond employs a state-weighted industry loss trigger and covers named storms and earthquakes in the U.S., Puerto Rico, the U.S. Virgin Islands, and Canada.
For the first time in Ariel Re’s catastrophe bond program, this transaction also includes U.S. wildfire coverage.
Ariel Re’s Syndicate 1910 at Lloyd’s of London ceded the bond, which closed successfully on July 1, 2025. As part of the transaction, Ariel Re issued two tranches of Series 2025-1 notes to investors.
Howden Capital Markets & Advisory served as the sole structuring agent and joint bookrunner, while Aon Securities LLC acted as joint bookrunner.
Ryan Mather, Chief Executive Officer of Ariel Re, said the firm was pleased to complete its fifth catastrophe bond and expressed appreciation for investor support.
He noted that capital markets investors remain an important component of Ariel Re’s strategy and that the 4Y bond provides meaningful stability.
Capital markets investors are an important part of Ariel Re’s strategy, and we are very happy with the stability we have secured through this four-year bond.
Ryan Mather, Chief Executive Officer of Ariel Re
Andrew Kerr, Vice-President of Capital, stated that Ariel Re aims to be the premier manager of reinsurance risk and continues to be a trusted partner for capital markets investors.
He highlighted the expansion of peril coverage in this transaction as a significant development.
Ariel Re offers a range of innovative insurance and reinsurance solutions and services through our offices in Bermuda, London, and Hong Kong, meeting the business needs of a diverse client base. Ariel Re operates through Syndicate 1910 at Lloyd’s of London and we also offer access to Lloyd’s Europe.
We are a major writer of property catastrophe reinsurance, covering large insurance companies around the world against major losses from natural catastrophes such as hurricanes and earthquakes.
