Delivering Independent ILS Intelligence
Structured Data and Analytics Platform for ILS Market Participants
Supporting Liquidity with Daily Valuations
The first and only provider of daily catastrophe bond pricing intelligence. Stay ahead of market-shifting events as they happen.
Who we are
The First ILS-Native Fintech Platform. Designed for Institutional Clarity.
Created by and for ILS professionals, Caterina brings a new standard of accuracy and transparency to the marketplace.
Our Focus
Tailored for Every Market Participant
For ILS Managers
Precision Platform for Modern Portfolios
Caterina replaces the fragmented mix of internal spreadsheets, inconsistent broker marks, and manual reconciliation with a centralized, standardized pricing layer built specifically for ILS portfolio managers. Instead of relying on scattered data sources or consensus estimates, managers gain access to a unified view that reflects actual market-clearing levels and the mechanics of each bond's contract. This creates a reliable valuation foundation for internal processes.
In addition to core pricing, Caterina automates key workflows such as monitoring deal rooms, ingesting new issue data, and tracking seasonality drift. These tasks are handled automatically, allowing managers to focus more of their time on strategy, portfolio construction, and communication with investors. Caterina also integrates live impairment data and spread behavior into a daily valuation engine that adapts with market developments.
The platform enables managers to validate their internal marks against a trusted third-party source. By using Caterina’s market-standard indices, ILS managers can benchmark performance, identify relative value opportunities, and ensure their marks reflect current investor sentiment. With Caterina, every valuation becomes consistent, transparent, and defensible.
For Allocators & LPs
Clarity, Consistency, and Comparable Risk Views
Caterina equips institutional allocators with a clear, independent view of fund performance and underlying portfolio risk. By delivering transparent and standardized daily pricing, LPs can independently validate reported NAVs, evaluate manager positioning, and identify how closely a fund tracks broader market behavior. This improves transparency and accountability.
With Caterina’s market indices and security-level data, allocators can evaluate how spreads move, how risk profiles shift over time, and how different funds stack up against one another. This creates a consistent analytical framework that supports objective capital allocation, rebalancing, and redemption decisions. Cross-manager comparability is no longer aspirational: it is now practical and repeatable.
Caterina gives LPs the tools to go beyond marketing narratives and assess how capital is truly being deployed. With a standardized view across funds, LPs can spot performance drift, align with preferred risk tolerances, and invest more strategically. The result is a more transparent and disciplined approach to capital deployment across the ILS landscape.
For Sponsors & (Re)insurers
Clarity on Performance, Context on Market Levels
Caterina enables sponsors and reinsurers to track how their bonds are being priced in real time. Instead of relying on intermittent updates from syndication desks or trading counterparties, sponsors gain multiple independent views of how their risk is perceived and valued across capital markets. This insight supports both monitoring and future issuance.
By comparing existing deals to Caterina’s indices and bond-level data, sponsors can evaluate how spread levels change across perils, layer types, and structural features. This helps issuers understand the current appetite of investors and adjust structuring decisions accordingly. Whether preparing a renewal or benchmarking security performance post-loss, Caterina provides the relevant market context.
Uploading modeled loss outputs or exposure files allows sponsors to analyze their bonds against others in the same risk category. This strengthens transparency with investors and supports more credible conversations with arrangers and reinsurers. Caterina equips sponsors to approach capital markets with the information they need to price, defend, and optimize their transactions.
For Auditors, Regulators, and Fund Administrators
The New Standard in ILS Transparency
Caterina sets a new bar for transparency and defensibility in catastrophe bond pricing. Each valuation is built from documented methodology, standardized assumptions, and contract-level logic. For auditors, regulators, and fund administrators this means full visibility into how each mark was produced and confidence that every price reflects current market dynamics.
Audit and compliance teams can rely on Caterina to support NAV verification, valuation policy review, and broader oversight of fund procedures. Each mark includes supporting detail that eliminates ambiguity and reduces interpretive risk. Caterina also maintains version history and records deltas over time, helping track price movement clearly and consistently.
Caterina’s sector-level indices offer macro-level insights that support solvency analysis and regulatory filings. Whether reviewing a single security or conducting a full-scope audit, institutions can now access a clear, consistent framework for interpreting pricing and risk in the ILS space. The result is a faster, more robust, and more transparent audit process.
For Data Vendors
Standardized, Transparent, Built for Integration
Caterina offers a daily data feed that is purpose-built for system integration and institutional use. Each mark is timestamped, structured, and accompanied by metadata, making it easy to ingest into trading terminals, pricing engines, and regulatory systems. The feed provides daily coverage across the entire active cat bond universe.
Unlike legacy sources that provide incomplete or unstructured data, Caterina publishes defensible valuations with supporting context and documented assumptions. The feed supports historical change tracking, making it possible to backtest strategies or monitor pricing behavior through time. All content is machine-readable and built for reliability.
Data vendors can integrate Caterina to strengthen their ILS coverage and provide clients with real transparency. The platform is not designed to replicate outdated solutions but to replace them. For vendors seeking to stay relevant in a rapidly institutionalizing market, partnering with Caterina is the clear next step.
For Repo Participants
Daily Marks, Real-Time Confidence
Participants in repo and financing markets need reliable, consistent pricing to manage margining and exposure. Caterina delivers daily, timestamped marks that reflect where the cat bond market is actually clearing. Unlike stale or self-reported prices, Caterina’s valuations are based on structured contract logic and real-time spread behavior.
This daily pricing layer becomes a reference point for repo desks, clearing agents, and trading counterparties. With Caterina, institutions can confidently calculate margin requirements, evaluate haircuts, and adjust for exposure without guesswork or reliance on fund-reported marks. Caterina simplifies negotiations and reduces pricing disputes by providing a shared source of truth.
For institutions facilitating collateralized lending or liquidity provision, Caterina enhances operational clarity and credibility. By grounding valuations in observable market activity and bond-specific terms, the platform allows financing counterparties to act with confidence, manage risk more effectively, and improve operational workflows across the board.
For the Media & Public Interest
Shaping the Narrative Around ILS
Caterina provides a real-time perspective on how capital markets are interpreting natural catastrophe risk. Through its daily pricing platform and market indices, the public can observe how billions of dollars are allocated across disaster exposures and insurance-linked securities. This data helps explain how financial markets are responding to environmental challenges.
The ILS market supports insurance affordability, disaster recovery, and climate resilience by channeling capital into areas most at risk. Caterina helps surface these dynamics by publishing standardized, data-driven insights that are accessible to journalists, policymakers, and the broader public. Our platform brings transparency to a market often hidden from view.
With leadership drawn from catastrophe modeling, capital markets, and underwriting, Caterina offers expert commentary on how institutional investors are pricing risk. We welcome media and research inquiries and are committed to supporting informed public dialogue around risk transfer, climate exposure, and the role of financial markets in global resilience.
For Market Makers
Clarity and Transparency You can Count on
Caterina provides a real-time look at how global capital markets are pricing catastrophe risk. Through standardized daily valuations and index tracking, the platform offers a consistent and independent reference point for market makers quoting and managing risk in the ILS space. It replaces opaque or outdated pricing with structured clarity.
Market makers can monitor how specific perils and structural layers are priced by investors across primary and secondary markets. This improves quoting accuracy, risk tolerance calibration, and spread negotiation. When trading around loss events or responding to changes in risk appetite, Caterina becomes a vital pricing signal that reflects the broader investor consensus.
By offering a view into how capital is reacting to changing climate exposures and catastrophe risks, Caterina helps market makers operate with more confidence. It supports more transparent quoting, better inventory management, and more accurate positioning in a space that has traditionally lacked defensible reference pricing.