OAK Global, a global risk partner underwriting through two dedicated syndicates at Lloyd’s, has sponsored its debut catastrophe bond through an upsized $150 million Quercian Re 2026-1 issuance.
Structured on an annual aggregate industry loss trigger basis, the transaction provides OAK Reinsurance Syndicate 2843 with fully collateralised, multi-year retrocession protection against US and Canada named storms and earthquakes, as well as US wildfire events, over a three-year term through 2029.
The debut issuance attracted strong support from a diversified capital markets investor base, enabling OAK Global to secure a 100% upsized placement.
The transaction represents a major milestone in the continued expansion of OAK Global’s specialist Lloyd’s platform.
Oak Reinsurance Syndicate 2843, a syndicate that’s focused on reinsurance opportunities, received permission in November 2024 to underwrite business incepting from 1st January 2025.
In September 2025, OAK Re rebranded its group identity to OAK Global and launched OAK Enterprise, a strategic business unit focused on underwriting retrocession business across property and specialty classes.
To read more about Quercian Re 2026-1 and other issuances, visit our sister publication Artemis’ Deal Directory.
Alex Winfield, Co-Founder, Chief Capital Officer and Head of Strategy for OAK Global, said, “Entering the catastrophe bond market is an important moment in OAK Global’s development. It reflects both the continued build-out of our platform and our ambition to access a broader, more diversified base of capital partners.
“This issuance enhances our ability to match risk to capital efficiently, while supporting the long-term, partnership-led approach that underpins our value proposition to clients.”
Ciara Svensen, Head of Ceded at OAK Global, commented, “An efficient and diversified retrocession programme is central to our strategy and cat bonds will play an important long-term role in this.
“The cat bond market offers an attractive and complementary source of protection, particularly for more remote peak perils, where 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 secured such strong support from the global ILS investor community that reinforces the firm’s broader ambition to build a resilient, scalable business supported by long-term capital partnerships across both traditional and alternative markets.
“This transaction demonstrates our ability to access new forms of capital and further strengthens our position as a forward-looking risk partner.”
