OAK Global, a global risk partner, sponsored its first catastrophe bond issuance through the issuance of $150 million of Quercian Re 2026-1 bonds, underwritten by two dedicated syndicates at Lloyd’s.
The transaction provides OAK Reinsurance Syndicate 2843 with fully collateralized, multi-year retrocession protection against U.S. and Canadian storms and earthquakes and U.S. wildfire events over a three-year term ending in 2029, based on annual gross industry loss triggers.
This initial issuance attracted strong support from a diversified capital market investor group, enabling OAK Global to obtain 100% of the additional issuance scale.
This transaction is an important milestone in the continued expansion of OAK Global’s professional Lloyd’s platform.
Oak Reinsurance Syndicate 2843, a syndicate focused on reinsurance opportunities, was licensed in November 2024 to underwrite business from January 1, 2025.
In September 2025, OAK Re changed its group profile to OAK Global and launched OAK Enterprise, a strategic business unit focused on underwriting retrocession business across real estate and specialty categories.
To learn more about Quercian Re 2026-1 and other releases, visit our sister publication Artemis’ Deal Directory.
Alex Winfield, co-founder, chief capital officer and head of strategy at OAK Global, said: “Entering the catastrophe bond market is an important moment in the development of OAK Global. It reflects both the continued building of our platform and our ambition to access a broader and more diverse base of capital partners.
“This issuance strengthens our ability to effectively match risk and capital while supporting a long-term, partner-led approach that underpins our value proposition to clients.”
Ciara Svensen, head of cession at OAK Global, commented: “An efficient and diversified retrocession program is at the heart of our strategy, and catastrophe bonds will play an important long-term role in this.
“The catastrophe bond market offers an attractive complementary source of protection, particularly for more remote peak risks, and we continue to see strong pricing and demand from investors.”
Deepon Sen Gupta, head of capital partnerships at OAK Global, added: “We are delighted to have received strong support from the global ILS investor community, which reinforces the company’s wider ambition to build a resilient, scalable business supported by long-term capital partnerships across traditional and alternative markets.
“This transaction demonstrates our ability to access new forms of capital and further solidifies our position as a forward-looking venture partner.”
