Market Data

Catastrophe bond performance, indices, pricing data, and loss tracking

Swiss Re Cat Bond Index

Total return performance of the global catastrophe bond market since 2002. The Swiss Re Cat Bond Index is the industry-standard benchmark used by fund managers and institutional investors to measure ILS portfolio performance.

Start Value

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Jan 2002

Latest Value

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Total Return

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Since inception

The Swiss Re Global Cat Bond Total Return Index (Bloomberg ticker: SRCATTRR) tracks the performance of USD-denominated catastrophe bonds in the secondary market. Launched with a base value of 100 in January 2002, it reflects total returns including price changes and coupon payments, covering property catastrophe risks including hurricanes, earthquakes, and other natural perils.

This page is for educational purposes only and does not constitute investment advice.

For analysis and context on these market statistics, see our Cat Bond Market Overview and the latest market analysis posts.

Annual Returns by Year (2002–2025)

Year-by-year total returns of the Swiss Re Global Cat Bond Total Return Index (SRCATTRR, Bloomberg ticker). In 23 out of 24 calendar years since 2002, the index has delivered positive returns. The only negative year was 2022 (−2.3%), driven by Hurricane Ian losses. The index is not directly tradable — it is a benchmark; see the access routes guide for investable vehicles.

Year Annual Return Notable Context
2025+11.2%Hurricane Milton; strong reinsurance pricing environment
2024+17.2%Continued elevated spreads; record $46B+ issuance year
2023+20.1%Post-Ian spread reset; best year since 2002
2022−2.3%Hurricane Ian (only negative year in 24-year history)
2021+4.9%Ida, European floods; positive despite active cat year
2020+5.8%COVID-19 financial crisis — cat bonds near-uncorrelated
2019+4.3%
2018+2.2%Camp Fire, Florence, Michael
2017+1.0%Harvey, Irma, Maria; worst hurricane trio in decades — index flat
2016+6.9%
2015+4.4%
2014+6.2%
2013+11.3%Oklahoma tornadoes; European floods
2012+10.4%Superstorm Sandy; spreads elevated
2011+3.2%Tōhoku earthquake/tsunami, Thailand floods, NZ earthquake
2010+11.3%Chile earthquake
2009+13.8%Post-GFC rebound; cat bonds outperformed all major asset classes
2008+2.0%Global Financial Crisis — S&P 500 −37%; cat bonds returned +1.5%
2007+15.2%
2006+11.9%Post-Katrina spread widening drove strong returns
2005+1.4%Katrina, Rita, Wilma — costliest US hurricane season at the time
2004+6.4%
2003+7.0%
2002+7.7%Index inception year (base 100, Jan 2002)

Source: Swiss Re Global Cat Bond Total Return Index (Bloomberg ticker: SRCATTRR). Annual returns calculated from first-to-last weekly value per calendar year. Index not available on Yahoo Finance; Bloomberg terminal required for live data. Historical values sourced from Bloomberg weekly index data.

Cat Bond Indices & Pricing

Artemis Deal Directory

Comprehensive database of every cat bond and ILS transaction ever issued. Searchable by sponsor, trigger type, peril, and year — an essential research tool for tracking issuance trends and deal structures.

Artemis Deal Directory →

CAT Bond Index Data

Specialist cat bond index data providing granular sub-index breakdowns by peril region and expected loss.

CAT Bond Index Data →

Loss Data & Catastrophe Tracking

PCS (Property Claim Services)

The official industry-loss index for U.S. catastrophe events. PCS loss estimates are used as triggers for many industry-loss cat bonds and are the standard reference for U.S. insured catastrophe losses.

PCS by Verisk →

Munich Re NatCatSERVICE

One of the world's most comprehensive natural catastrophe loss databases. Tracks global economic and insured losses from natural disasters, providing essential data for cat bond risk modeling.

Munich Re NatCatSERVICE →

PERILS AG

Independent provider of industry-wide catastrophe insurance loss data for European and select international markets. PERILS indices serve as triggers for European wind and flood cat bonds.

PERILS AG →

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