Transformer (in insurance-linked securities and reinsurance) news

Nascent Re Ltd. a licensed reinsurance transformer owned and operated by Bermuda-based Nascent Group, has completed its first issuance of listed insurance-linked securities, as a €10 million tranche of OFS Re Series 2026-001 preferred shares have been admitted to the Bermuda Stock Exchange (BSX).

The Eclipse Re Ltd. transformer vehicle has issued its first listed private catastrophe bond notes of the year, with a $100 million Eclipse Re Ltd. (Series 2026-1A) becoming the largest cat bond lite of 2026 so far, Artemis has learned.

Another new private catastrophe bond issuance from the Eclipse Re Ltd. transformer vehicle has come to light, the eighth from the platform in 2025 so far. At $100 million in size, this Eclipse Re Ltd. (Series 2025-8A) cat bond lite has become the biggest from the issuer this year.

Artex Capital Solutions, the insurance-linked securities (ILS) market service provider arm of Artex Risk Solutions, has hired Paul Sikuku from Aon to lead its UK Insurance Management Client Service team and work with a range of insurance-linked securities (ILS) clients on risk transformation.

Nascent Group, a Bermuda headquartered insurance management, ILS servicing and reinsurance transformer specialist, has expanded its actuarial servicing capabilities by making a strategic investment into Sephira Risk Solutions Ltd., an actuarial consultancy founded by former EY executive Andy Smyth.

Nascent Group, a Bermuda headquartered insurance management, ILS servicing and reinsurance transformer specialist, has hired Bellal Rahman as a Senior Vice President to strengthen its offerings for the insurance-linked securities (ILS), commercial carrier and life reinsurance space.

Two more private catastrophe bonds have come to light from the Eclipse Re Ltd. transformer vehicle, which has taken the total issued by the Artex managed structure to $118.2 million in 2025 so far across seven series of notes, lifting private cat bond issuance tracked by Artemis to $496.51 million year-to-date.

Private catastrophe bond issuance in 2025 has now surpassed the full-year total from 2024, as three new series of notes issued by the Eclipse Re Ltd. transformer vehicle have come to light and taken this year’s figure to over $465 million.

Strategic Risk Solutions, Inc., an independent provider of insurance, reinsurance and captive management and consulting services, has promoted long-standing employee Andrew Hupman as its new head of office for SRS Bermuda.

Another private catastrophe bond has come to market recently, as we’ve learned of a new $37.5 million Eclipse Re Ltd. (Series 2025-1A) privately transacted and placed insurance-linked securities (ILS) arrangement, the second such deal from the Eclipse Re transformer so far in 2025.