capital markets

Ariel Sociedade Seguradora de Propósito Específico S.A. (Ariel SSPE) will be the third insurance-linked securities (ILS) structure in Brazil, harnessing the country’s regulations to become an independent issuer of Letra de Risco de Seguro (Insurance Risk Letters), Brazil’s own brand of ILS instrument.

Nectaris Re Ltd., the Class 3A Bermuda-based rated reinsurance platform backed by specialist insurance linked securities (ILS) and reinsurance investment manager Leadenhall Capital Partners LLP, continued to report solid underwriting results for a third consecutive year in 2025, according to a rating affirmation from AM Best.

As alternative capital continues to integrate further into the global reinsurance market, in order for this to be truly sustainable the sector must prioritise better modeling, greater transparency and careful sequencing of product development so that capital can be deployed where it strengthens resilience, according to Laurent Rousseau of Guy Carpenter.

W. R. Berkley Corporation, the US-headquartered insurance holding company, once again reported higher premiums being ceded to its Lifson Re collateralized reinsurance sidecar for Q1 2026, while the company also recognised more fee income being earned from the structure.

Global reinsurance broker Howden Re has announced that Tim Radford has been appointed to the new role of Managing Director, Head of Lloyd’s Capital, which is set to help strengthen the organisation’s leadership across Lloyd’s market capital and investor engagement.

The insurance-linked securities (ILS) and reinsurance investments portfolio managed by specialist pension investor PGGM on behalf of Dutch pension PFZW delivered a 12.4% return in USD for full-year 2025, while the portfolio assets ended the year at a valuation of just over US $8.9 billion.

Two of the Lloyd’s syndicates operated by specialist ILS investment manager Nephila Capital are set to provide capacity support to a new property treaty consortium launched by MS Amlin, with data centre risk underwriting said to be a key focus for the new venture.

White Mountains reported that the Outrigger Re collateralized reinsurance sidecar, which supports its P&C insurance and reinsurance subsidiary Ark, continued to deliver positive income through the first-quarter of 2026, as even without having made a fresh sidecar investment for this year, benefits still flow for the company.

AkinovA, the technology-led re/insurance platform focused on expanding access to underwriting capital for large corporate risks, including via capital markets participation, has appointed Matthew Gilpin as Group Chief Operating Officer (COO).

The government of Portugal is considering catastrophe bonds as a potential mechanism that could be utilised to provide risk capital for disaster resilience and to better manage catastrophe risk exposure in the country.