The Bermuda market is the most prolific hub in the global insurance-linked securities (ILS) sector, being the domicile to the majority of catastrophe bonds and other ILS arrangements.
Bermuda also has a significant specialty insurance and reinsurance market, with many of those companies being users of third-party reinsurance capital in all its forms, including ILS.
Bermuda is also home to many of the ILS markets dedicated investment managers, as well as third-party capital focused units of re/insurers.
Read all of our Bermuda cat bond and ILS market news and analysis on this page.
AXIS Capital, the global specialty insurance and reinsurance underwriter, has seen the fee income it earns through third-party strategic capital partner arrangements continue to rise in the third-quarter of 2026, with insurance-linked securities, quota share and the new Capacity Solutions division all contributing.
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Lockton Re, part of the independent Lockton broking group, has announced that senior reinsurance and retrocession specialist broker Jeremy England Lee is relocating to become Chairman of the firm’s Bermuda operation.
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While the insurance-linked securities (ILS) market stands as foundational source of reinsurance capital and continues to expand across various products, regions and perils, ILS Bermuda has highlighted the island’s central role in driving the global sector forward.
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The Bermuda Stock Exchange (BSX) has now listed in total 169 new catastrophe bond notes and insurance-linked securities structures in the first three-quarters of 2026, maintaining its global position as ILS listings leader and becoming home to the vast majority of listed ILS issuance so far this year.
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The Bermuda Monetary Authority has confirmed that contracts under its proposed Parametric Special Purpose Insurer (PSPI) regulatory framework can be structured as reinsurance, derivatives, or swaps, so as long as the underlying risk transfer meets the applicable statutory and regulatory requirements.
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Appleby, the specialist offshore law and corporate services provider with a significant insurance-linked securities practice, has secured a minority growth investment from affiliates of New Mountain Capital, in a move that is set to accelerate the law firm’s growth strategy.
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A recent report from ALIRT Insurance Research suggests that steady growth amongst Bermuda reinsurers and sidecars are responsible for a significant portion of the U.S. life insurance sector’s expansion in recent years.
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Artemis has learned that Beazley, the London headquartered specialty insurance and reinsurance company, has partnered with specialist insurance-linked securities investment manager Integral ILS Ltd. to establish the awaited cyber ILS fund operation in Bermuda.
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The Bermuda Stock Exchange (BSX) continued to grow its market share of catastrophe bonds and other insurance-linked securities (ILS) in the second-quarter of 2026, ending the period with a record-high $70.5 billion of ILS related listings on the exchange.
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The Bermuda Stock Exchange (BSX) continues to optimise its process for listing new insurance-linked securities (ILS), with a streamlining announced that will allow for guaranteed next day listings, with same day possible in certain cases, for previously approved insurance-linked securities (ILS) programmes.
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