Two new private catastrophe bond arrangements have been issued by Artex Axcell Re, the Bermuda based Artex Risk Solutions operated transformer entity, with almost $48.26 million of notes sold to investors across the two series, Artemis has learned.
Including these two Artex Axcell Re deals we have now tracked 12 of these cat bond lite transactions so far in 2026, while issuance of these privately placed catastrophe bond deals has reached approaching $278.3 million year-to-date.
You can view details on every private cat bond we’ve tracked in the Artemis Catastrophe Bond Deal Directory by using the filters to view only private deals (filter by type).
The Artex Axcell Re transformer vehicle has been regularly used over the years for transacting reinsurance related risks, including through the issuance of private insurance-linked securities (ILS) notes, ranging from collateralized reinsurance to private cat bonds with the assistance of facilitator Artex Capital Solutions, the capital markets focused division of Artex.
The latest transactions from the vehicle see almost $48.26 million of notes placed across two private catastrophe bond issuances.
For the first transaction, Artex Axcell Re (Bermuda) Limited, under its ILS Note Program II, has issued $20 million in SH0002 2026-1 notes on behalf of a segregated account, we understand.
For the second, Artex Axcell Re (Bermuda) Limited, under its ILS Note Program II, has issued almost $28.26 million of Macclesfield 2026-1 notes also on behalf of a segregated account.
Both of these private cat bond issuances have the same maturity date of September 30th 2031, so may represent a transaction providing reinsurance or retrocessional coverage over a more than one year term.
With the same due dates, they may also represent slices of the same overall reinsurance or retrocession arrangement, being transformed, securitized into notes and ceded to investors.
The $20 million of SH0002 2026-1 notes and the almost $28.26 million of Macclesfield 2026-1 notes issued by Artex Axcell Re have been privately placed with qualified institutional investors and are now listed on the Bermuda Stock Exchange (BSX).
As with all of the private ILS or cat bond deals that we report on, until we learn more details we assume these cover property catastrophe reinsurance or retrocession risks.
With these latest private cat bonds, or private insurance-linked securities (ILS) deal, annual issuance in 2026 so far of these types of arrangements tracked by Artemis is now sitting just under the $278.3 million mark.
You can analyse catastrophe bond issuance by type of deal in this chart, which you can filter using the key to view only private cat bond issuance.
You can view details on every private cat bond we’ve tracked in the Artemis Catastrophe Bond Deal Directory. Use the filters to view only private cat bonds (filter by type).
