Abstract: The mechanism of insurance-linked securities issue on the example of catastrophic bonds abroad is analyzed. The causes of the low capacity of the Ukrainian reinsurance market are revealed and, therefore, the necessity of the use of financial market instruments in order to raise funds for financing catastrophe risks is justified. A special scheme of the relationships between key participants of catastrophe risks securitization is designed. The article presents directions for law and regulation acts’ development regarding the issue of reinsurance bonds and formation of reinsurance maintenance. Requirements to the reinsurance agent are formulated. The need to develop the infrastructure of the reinsurance bond market is substantiated. The interest of investors in this type of financial instruments is determined, in particular, the possibilities of forming unit investment reinsurance bond funds. Directions for the development of legislative and regulatory acts regarding the issuance of reinsurance bonds, the formation of a reinsurance security. The requirements for the reinsurance agent are formulated. The problems of using the main triggers that are used in foreign practice are identified. In this regard, the need to develop the infrastructure of the reinsurance bond market is substantiated. The interest of investors in this type of financial instruments is determined, in particular, the possibilities of forming mutual investment reinsurance bond funds. The possibilities of the state involvement in financing of preventive catastrophe risks of natural disasters through equity participation in the reinsurance agent, public participation in the formation of reinsurance maintenance, issue of guarantees, purchase of reinsurance bonds and other forms, are presented.