Insurance Linked Investments

AXIS Capital, the global specialty insurance and reinsurance underwriter, has put a new reporting line in place for its insurance-linked securities (ILS) division AXIS ILS, with Group Chief Underwriting Officer Dan Draper adding that to his responsibilities.

Despite tighter spreads in the catastrophe bond market, Legal & General (L&G) intends to maintain its exposure to the asset class, with Alex Turner, Fund Manager Assistant, and Martin Dietz, Head of Diversified Strategies, noting the firm is prioritising portfolio integrity while awaiting more favourable entry points, rather than rotating out of the space.

Hiscox Re has announced the launch of Hiscox Capital Partners, which is set to bring together under a single structure all the capital partnership activity the organisation has managed for nearly two decades, including third-party capital and insurance-linked securities (ILS).

Challenger Life, a large Australian life and retirement income underwriter and investor, has reported that its investments into insurance-linked securities (ILS), which are predominantly catastrophe bonds, beat their benchmark in the last six months of record for the firm.

While 2025 was a quieter year for the cyber insurance-linked securities (ILS) space, S&P Global Ratings emphasised that the market still remains an effective alternative capital solution that offers insurers an effective way to transfer large-scale, systemic cyber risk to the capital markets.

The insurance-linked securities (ILS) market is coming off a remarkable year, bolstered by record catastrophe bond issuance. According to Jean-Louis Monnier, Head of ILS at Swiss Re Capital Markets the momentum was driven by a mix of significant capital inflows and low market losses, which has ultimately helped create a high demand environment for ILS.

The Florida State Board of Administration has further diversified its insurance-linked securities (ILS) allocations made on behalf of the Florida Retirement System Pension Plan, with $400 million invested across a quota share reinsurance strategy managed by Tangency Capital and a specialty lines opportunity managed by Nephila Capital.

Nephila Capital has hired experienced reinsurance and capital management executive Anthony Landi as Head of Strategic Growth for the firm’s Nephila Advisors investor relations and US business development division.

Adam Schwebach of reinsurance broker Gallagher Re is expecting more new cedents to enter the insurance-linked securities (ILS) market in 2026, describing it as a product that can no longer be ignored for catastrophe risk.

Filings show that RenaissanceRe’s recently established Stratos Fund catastrophe bond strategy is an investment vehicle for a single institutional investor, with this managed account seemingly representing the interests of an allocator that has switched to a fund-of-one from the co-mingled Medici cat bond fund strategy.