Kin Insurance, the direct-to-consumer digital home insurance provider, said it has successfully completed its largest-ever catastrophe bond: a transaction through Hestia Re Ltd (Series 2026-1) totalling $335 million across four bonds that secures multiyear financial protection for homeowners against major storms.

The Bermuda Stock Exchange announced the admission of the securities under the debt listing regulations to its official list, citing First Bermuda Securities Limited as the listing sponsor.

Catastrophe bonds raise funds from institutional investors who agree to cover losses if storm damage exceeds a set threshold, giving Kin stable, long-term backing.

“This is our fourth catastrophe bond, and with each one, the terms improve while investor demand grows,” said Sean Harper, Kin’s cofounder and chief executive officer.

“This year's deal is our largest yet, covering more of the country than ever before, and achieving our best pricing to date. Our cat bonds have historically outperformed other similar cat bonds, which drives investor demand.”

The Wisconsin insurtech company’s mission is to modernise the homeowners insurance industry through technology and data-driven solutions.

For the first time, its cat bond protection extends beyond Florida to cover homeowners in additional states where Kin operates, reflecting its growing multi-state footprint.

The company statement said: “Kin secured strong investor support for one of the most exposed portions of the transaction — the layer that would be first to cover losses in a major storm. This demonstrates investor confidence in Kin’s ability to select risk effectively and outperform the competition.

“A larger group of institutional investors participated than any prior Kin deal, a sign of growing confidence in Kin's business model.

“Kin’s AI-native approach to selecting and managing risk was rewarded. Investors overwhelmingly priced the bonds favourably relative to expected losses, meaning Kin is paying less than its peers for the underlying risk.

“Investors backed this deal at record size and better pricing, demonstrating their continued confidence in Kin’s growing portfolio, distribution at scale, and approach to risk selection.”

Angel Conlin, Kin’s chief insurance officer, noted: “This catastrophe bond reinforces our commitment to protecting policyholders for years to come. The terms reflect both the quality of our risk selection and the trust the market places in our platform.”

The statement added that for a company like Kin, which insures homeowners in states where hurricanes, wildfires, and other severe weather events are a real and growing risk, reinsurance is a critical part of the financial foundation.

Kin protects its customers by employing a combination of capital market and traditional reinsurance solutions. That diversification means a stronger product and greater peace of mind for its customers, the company said.

Premier insurance-focused investment banking team Howden Capital Markets & Advisory facilitated the transaction, alongside Howden Re.