Global reinsurer Hannover Re’s Bermuda-based insurance-linked securities (ILS) platform, Hannover Re Capital Partners, started writing business at the January 1st, 2026, reinsurance renewals, and Sven Althoff, Member of the Executive Board for Property & Casualty, has described the venture’s start as “truly diversified”.

Pine Walk Capital Limited, the specialist managing general agent (MGA) platform and wholly owned subsidiary of The Fidelis Partnership, has launched Carnovis Specialty Limited as a new Alternative Risk Transfer MGA, that also has a remit to underwrite business for third-party capital providers, including from the capital markets.

The Bermuda Monetary Authority (BMA) has confirmed that it plans to release a consultation paper in the fourth quarter of 2025 regarding the establishment of a new special purpose insurer (SPI) that will primarily focus on the use of parametric triggers.

During a panel session earlier today at the ILS Bermuda Convergence 2025 conference, it was announced that the Bermuda Monetary Authority (BMA) is currently in the final stages of implementing a new special purpose insurer (SPI) class that will primarily focus on the use of parametric triggers.

In a recent article, global broker Aon has highlighted that the continued growth of alternative capital sources is enabling more efficient risk management by bringing solutions closer with underlying risks.

Andrew Newman, President of global reinsurance broker Gallagher Re, said today that if the firm’s pipeline is any indication of catastrophe bond market activity in the final quarter of 2025 and the first half of next year, “we won’t be surprised to see a fourth record-breaking year of issuance.”

Analysts at Moody’s Ratings expect the alternative reinsurance capital space to continue to expand over the long-term, stating that much of the growth will come from reinsurers with additional growth expected from non-catastrophe risk, as the rating agency shifts its outlook on the global reinsurance sector to stable from positive.

Generali Global Corporate & Commercial (GC&C) has named Michele Pignoli as Head of a newly established unit focused on Alternative Risk Transfer (ART) and Parametric insurance solutions, as the company sets its sights on scaling up this segment under its new 2025–2027 Next Level strategic plan.

Allianz Commercial, part of global insurer Allianz, has announced the appointment of Lara Martiner as Global Head of Alternative Risk Transfer at Allianz Global Corporate & Specialty SE (AGCS), effective April 1st, 2025, succeeding Grant Maxwell, who is leaving the German insurer at the end of June.

Urs Ramseier, Chief Executive Officer of insurance-linked securities (ILS) manager Twelve Securis, expects significant growth in the parametric ILS market as technological advances enhance data quality, modelling, and trigger precision, creating new opportunities for business interruption coverage and protection where traditional insurance and reinsurance solutions are lacking.