Insurers are selling so-called catastrophe bonds at a record rate as they seek to offload the growing risk from climate change on to investors eager for high returns.
Issuance of the instruments, which transfer part of the risk for events such as wildfires, hurricanes and earthquakes to bondholders, has surged to $18.1bn so far this year. That compares with the previous record of $17.7bn for the whole of 2024, according to specialist data provider Artemis.bm.
The sales come as much of the world grapples with extreme weather, which scientists say is becoming more frequent and intense because of climate change.
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