Key milestones include the Cairney transactions, sponsored by Beazley and placed by Gallagher, which introduced scalable catastrophe bond lite structures in 2023. In 2024, these developments continued with Rule 144A catastrophe bonds such as PoleStar Re Ltd., Long Walk Reinsurance Ltd., and Matterhorn Re Ltd., with PoleStar 2024-3 securing US$210 million, the largest cyber cat bond to date.
