Casualty insurance-linked securities news

Fergus Re, the Bermuda based collateralized reinsurer that writes business for investors that have an appetite for returns from quality casualty risk underwriting business, has announced the appointment of Stewart Ritchie as Chief Executive Officer (CEO), succeeding Navin Dadlani, who will assume the role of Chairman of the Board.

2025 is shaping up to be a pivotal year for the insurance-linked securities (ILS) sector, with growing investor appetite for securitized casualty risk, according to executives from reinsurance broker Gallagher Re, with Andrew Newman saying it is a “game changer” for the ILS market.

Casualty insurance-linked securities (ILS) firm MultiStrat’s recent capital investment serves as a key example of how the organisation is broadening its reach to serve more investors, and explore longer-term capital relationships, Bob Forness, Chief Executive Officer of MultiStrat told Artemis in an interview.

In the wake of its announcement that Swiss Re is bringing together its insurance-linked securities (ILS) investment management operations under the Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC) brand, Artemis spoke with senior executives from the Alternative Capital Partners (ACP) division of the reinsurance company.

Ecclesia Re, the specialist reinsurance broking arm of Ecclesia Group, has brought in additional insurance-linked securities (ILS) expertise in the shape of former Securis executive Mattias Eng, as it accelerates its focus on bringing casualty ILS solutions to European cedants.

Having recently launched its structured solutions product suite and enhanced whole account quota share capabilities, Anthony McKelvy, Co-Founder of collateralized reinsurance firm Northern Re spoke to Artemis at RVS in Monte Carlo to discuss how these offerings go beyond traditional quota share, transforming the way cedents access capital and engage with investors.

Executives from Enstar, one of the largest legacy and run-off reinsurance specialists in the world, told Artemis that they are seeing strong interest for its solutions from the insurance-linked securities (ILS) funds sector, as managers seek mechanisms to provide liquidity to their investors.

The recent successful launch of $500 million casualty reinsurance sidecar Wayfare Re is a key development as Ascot Group continues to build out its Leadline Capital Partners business and represents a modern, scalable partnership with an appropriate investor in Antares, Mark Wilcox, Group Chief Financial Officer of Ascot told Artemis in an interview.

Buyers and sellers are energised by the opportunity to unlock long-tail casualty risk through insurance-linked securities (ILS), with this momentum driving a broader transformation in the legacy reinsurance market, shifting it from one-off liability transfers toward long-term, strategic partnerships, according to Howden Re.

As PwC released its sixteenth Global Insurance Run-Off Survey report today, we took a look at what the legacy reinsurance sector is saying about the growing use of alternative capital in the space, as well as how legacy solutions are now serving insurance-linked securities (ILS) funds and investors as well.