Analyze the catastrophe bond maturity schedule and see when liquidity is available

Catastrophe bond maturities provide an important source of liquidity and cash to the market, which is typically reinvested in new cat bond issuances. As such, the schedule of upcoming cat bond maturities is an important indicator for sponsors and brokers, as well as for cat bond mutual fund managers.

To help our readers understand what’s coming next, we’ve added a new interactive chart to our suite of visualizations and analysis tools for catastrophe bonds and insurance-related securities (ILS).

Now, with Artemis, You can view and analyze the upcoming catastrophe bond maturity schedule quarterly and monthlyto help you with your decision making and better determine the timing of your market.

As the catastrophe bond market has grown in recent years, there are periods of scheduled catastrophe bond maturities where a significant portion of the risk capital is freed up and returned to investors and catastrophe bond asset managers. This capital must then be redeployed when issuance levels allow.

This is important for both investors and fund managers to consider so that they can time the inflow of new investors with periods of strong maturities in mind. It is also important for those sponsoring and marketing new cat bonds.

The Artemis data, which you can view above and analyze here using our new interactive chart, shows that the maturity burden of cat bonds is becoming quite significant in the second quarter, thanks to growing issuance.

This is because the second quarter has historically been one of the busiest quarters for catastrophe bond issuance. As the level of activity in the market increased, so did the schedule of maturities for that period, with most deals being of fixed calendar year length.

That’s why, as our chart of catastrophe bond maturities shows, over $5.8 billion of catastrophe bonds are due in the second quarter of 2025, with over $7 billion each scheduled for the second quarters of 2026 and 2027.

The peak month for the redemption of upcoming catastrophe bonds is currently June 2026, with over $4.4 billion of catastrophe bonds expected to be redeemed.

Periods of significant cat bond maturities can lead to some spread compression as cat bond fund managers and investors look to put their money back to work.

They can also lead to new issues becoming more frequently oversubscribed, creating attractive issuance terms for sponsors to enter the market with a new deal in the hope of better execution as investors and fund managers look to inject liquidity back into the market.

As cat bond issuance increases and maturities become longer, it becomes increasingly important for the market to be able to recycle money into new deals and through the secondary cat bond market.

Efficiently and effectively recycling capital is an important part of the role of an ILS fund manager.

Some might argue that it may be easier to recycle capital from maturing deals in the catastrophe bond market, where secondary liquidity and issuance (renewals) occur most of the year, than in the traditional reinsurance and retrocession market, where activity is concentrated on just a handful of key renewal dates.

We hope you find our new chart of expected maturities of catastrophe bond markets useful. We will update it with each issuance and maturity so that the data remains accurate and up to date for our readers.

The Artemis Deal Guide provides an overview of all catastrophe bonds and related transactions completed since the market was established in the late 1990s. The directory also displays cat bonds awaiting settlement, which are highlighted in green at the top of the list.

Analyze the catastrophe bond market using our charts and visualizations, which are kept up to date as each new trade is settled.

Download our free quarterly reports on the catastrophe bond market.

We track data on catastrophe bonds and related ILS issuances, the most prolific sponsors in the market, the most active structuring and bookrunning banks and brokers, which risk modelers are most likely to include in catastrophe bonds, and much more.

You can find all our charts and data here, or via the Artemis Dashboard, which provides a convenient one-page overview of cat bond market statistics.

All these charts and visualizations are updated as each new cat bond issuance is completed, or as older issuances mature.