Gallagher Re supports OAK Global in its first entry into the insurance-linked securities (ILS) market, with the issuance of US$150 million in Quercian Re 2026-1 catastrophe bond notes. The transaction provides fully collateralised retrocessional reinsurance protection to OAK Reinsurance Syndicate 2843 at Lloyd's, enhancing its underwriting portfolio with diversified capital markets capacity. The Quercian Re 2026-1 notes offer three-year, annual aggregate protection against US and Canada named storms, earthquakes, and US wildfire events. The deal is executed through Arthur Re, a Bermuda-based segregated accounts company and Gallagher Re's new platform, which is designed to reduce the cost and time needed to issue index catastrophe bonds. Jason Bolding, global CEO of Gallagher Securities, says: "Quercian Re 2026-1 demonstrates the strength of Arthur Re as a platform to deliver faster, more efficient index catastrophe bond issuance, enhancing how we connect clients with capital markets." Paddy Ellis, global head of retrocession at Gallagher Re, says: "This transaction highlights how Gallagher Re is product agnostic, integrating innovative retrocession solutions such as Arthur Re, and accessing the most suitable and cost-efficient capital for our clients." Gallagher Re is a global reinsurance broking and advisory firm operating across the risk and capital spectrum, backed by Gallagher.
