ILS listings on the BSX reach new high at $28 billion


The Bermuda Stock Exchange (BSX) continues to grow its amount of catastrophe bond and insurance-linked securities (ILS) listings, with a further 44 securities with a combined value of $4.802 billion added in the first four months of 2018.

BSX Bermuda Stock Exchange logoAs at the end of 2017, Artemis wrote that the volume of catastrophe bond and ILS listings on the exchange reached a new high of just under $26 billion, representing year-on-year growth of 23%.

In the opening months of 2018 it appears this growth has continued, with the BSX revealing that from the start of the year up to the end of April, 44 new securities have listed on the exchange, with a total value of $4.802 billion.

This means that to date and taking into account maturities, the BSX has 249 securities listed, at a total market capitalisation of $28 billion, a new high for the exchange and which represents growth of just under 8% from the end of 2017, in terms of value.

BSX President and Chief Executive Officer (CEO), Greg Wojciechowski, commented: “We’re delighted with the continued growth in our ILS listings. As the leading Exchange servicing ILS issuers, we’re pleased that the market continues to keep us on our toes and evolve our service offering, at the BSX and across the Bermuda platform.

“The fact that Bermuda has so many years under its belt in supporting the creation, servicing and listing of ILS structures accentuates that it is a perfect partner to help the market deepen and evolve and to help be a contributor to the industry’s quest to narrow the exposure gap.”

The ILS market responded well to 2017 catastrophe events and continues to expand its remit. Bermuda is clearly benefiting from its ability and position as an international ILS hub, continuing to attract both new capacity and vehicles.

At the same time, other jurisdictions, such as London and Singapore, remain committed to establishing themselves as a viable and competitive ILS domicile, so it will be interesting to see if Bermuda remains a dominant ILS hub and if the BSX can maintain its current growth trend.

“Bermuda is uniquely positioned as a thought leader and partner that has been willing to work with the ILS market to create an innovative environment to make the expansion and deepening of this asset class a reality,” said Wojciechowski.

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