capital markets

With alternative capital in the reinsurance industry standing at a record $113 billion in 2024, analysts at S&P Global Ratings projects that it will continue to reach new heights in 2025, as it fills gaps left by traditional capital.

Alex Mican, the former Head of PCS Global Strategy and Growth at Verisk, has now joined Moody’s in a role focused on insurance-linked securities (ILS) advisory and business development.

In the wake of recent devastating wildfires in California, Howden Re has called for reforms and action to encourage more risk capacity to help in closing the protection gap crisis in the state, saying that both traditional reinsurance and capital markets will be needed, as well as innovative risk transfer such as parametric solutions.

On Friday February 7th, around 415 attendees enjoyed a day of engaging, inspirational talks and valuable networking at our Artemis ILS NYC 2025 conference, hearing from our expert speakers that investor interest in catastrophe bonds and insurance-linked securities (ILS) is resurgent, while the ILS investment opportunity set is expanding.

White Mountains has reported that for full year 2024, its investment into the Outrigger Re collateralized reinsurance sidecar, which supports its property and casualty insurance and reinsurance subsidiary Ark, delivered income of $46 million, down 33% on 2023 as catastrophe losses had a far greater impact.

Reinsurance broker Gallagher Re has announced that insurance-linked securities (ILS) veteran Jason Bolding has been promoted to Chief Executive Officer (CEO) of Gallagher Securities, the firm’s ILS and capital markets broker-dealer division, while Bill Dubinsky moves into the role of Chairman.

Global reinsurer Hannover Re increased its natural catastrophe retrocession protections at the January 1st, 2025, reinsurance renewals by EUR 100 million to a little more than EUR 1.2 billion, with growth in the aggregate excess of loss and whole account excess of loss covers more than offsetting a reduced K-Cessions sidecar for the year.

Aon Insurance Managers (IM), the unit of the global insurance and reinsurance broker that provides insurance management services, across commercial, captive and insurance-linked securities (ILS) vehicles, has hired Charlotte Shreeve as its new Director of ILS North America.

With capital levels of insurance-linked securities (ILS) reaching new highs in 2024, and returns across the market remaining attractive, “with particularly strong catastrophe bond issuance,” rating agency Fitch anticipates sustained robust growth in the supply of alternative reinsurance capital throughout 2025.

According to Eric Andersen, President of broking giant, Aon, the insurance-linked securities (ILS) market continues to be a very “boutique business within reinsurance” for the firm, in terms of the scale of the traditional reinsurance treaties seen across the industry on property cat, liability and specialty.