QBE Insurance Launches US$400M Catastrophe Bond Through Bridge Street Program

QBE Insurance Group has recently announced the successful closure of a new catastrophe bond, securing $400 million in collateralized reinsurance coverage. This bond specifically addresses risks associated with named storms and earthquakes in the United States, as well as earthquakes in Australia and New Zealand.

This issuance represents the second set of notes (Series 2025-2) under QBE’s Bridge Street Re program. The program is designed to provide coverage based on an indemnity trigger and on a per-occurrence basis, spanning a three-year term. The catastrophe bond was officially closed on December 29, 2025, with coverage commencing on January 1, 2026.

Earlier this year, QBE issued its first catastrophe bond through Bridge Street Re in January 2025, which provided $250 million in collateralized reinsurance. This initial bond covered named storms and earthquake-related events across the US, Puerto Rico, the US Virgin Islands, the District of Columbia, and all provinces and territories of Canada, on an annual aggregate basis over a three-year period.

Peter Burton, QBE Group Chief Underwriting Officer, remarked, “This transaction enables QBE to leverage the growing ILS market to complement our traditional reinsurance placement and secure multi-year protection. By using such products, we develop new relationships to meet our overall risk transfer needs for peak peril exposures.”

Chris Killourhy, the incoming QBE Group Chief Financial Officer, expressed enthusiasm about the completion of the second issuance under the Bridge Street Re Catastrophe Bond program. “This highly successful issuance diversifies our capital providers and further enhances our capital management strategy,” he stated.

Aon Securities LLC played a pivotal role as the Sole Structuring Agent and Sole Bookrunner for this transaction, while Willkie Farr & Gallagher LLP served as transaction counsel to QBE.

Jordan Brown, Managing Director at Aon Securities, commented on the significance of the ILS community’s involvement in this innovative transaction. “We are pleased to see the ILS community participate in a novel transaction that provides investors with a globally diversified portfolio of well-underwritten commercial property insurance risk,” he noted. “The ultimate execution is reflective of QBE’s reputation in the market as a leading commercial and specialty lines insurer, globally.”

Topics
Catastrophe
USA

QBE Insurance Group has recently announced the successful closure of a new catastrophe bond, securing $400 million in collateralized reinsurance coverage. This bond specifically addresses risks associated with named storms and earthquakes in the United States, as well as earthquakes in Australia and New Zealand.

This issuance represents the second set of notes (Series 2025-2) under QBE’s Bridge Street Re program. The program is designed to provide coverage based on an indemnity trigger and on a per-occurrence basis, spanning a three-year term. The catastrophe bond was officially closed on December 29, 2025, with coverage commencing on January 1, 2026.

Earlier this year, QBE issued its first catastrophe bond through Bridge Street Re in January 2025, which provided $250 million in collateralized reinsurance. This initial bond covered named storms and earthquake-related events across the US, Puerto Rico, the US Virgin Islands, the District of Columbia, and all provinces and territories of Canada, on an annual aggregate basis over a three-year period.

Peter Burton, QBE Group Chief Underwriting Officer, remarked, “This transaction enables QBE to leverage the growing ILS market to complement our traditional reinsurance placement and secure multi-year protection. By using such products, we develop new relationships to meet our overall risk transfer needs for peak peril exposures.”

Chris Killourhy, the incoming QBE Group Chief Financial Officer, expressed enthusiasm about the completion of the second issuance under the Bridge Street Re Catastrophe Bond program. “This highly successful issuance diversifies our capital providers and further enhances our capital management strategy,” he stated.

Aon Securities LLC played a pivotal role as the Sole Structuring Agent and Sole Bookrunner for this transaction, while Willkie Farr & Gallagher LLP served as transaction counsel to QBE.

Jordan Brown, Managing Director at Aon Securities, commented on the significance of the ILS community’s involvement in this innovative transaction. “We are pleased to see the ILS community participate in a novel transaction that provides investors with a globally diversified portfolio of well-underwritten commercial property insurance risk,” he noted. “The ultimate execution is reflective of QBE’s reputation in the market as a leading commercial and specialty lines insurer, globally.”

Topics
Catastrophe
USA