ILS Advisers Fund Index

The insurance-linked securities (ILS) fund sector has delivered its highest single month of investment returns on record in September 2025 according to the ILS Advisers Fund Index, as strong premium accrual, coupon earnings and a benign loss environment combined to drive exceptional performance.

The insurance-linked securities (ILS) fund sector delivered another solid month of investment returns in August 2025 according to the ILS Advisers Fund Index, with the average ILS fund return across the index constituents reaching 1.58% for the month, the strongest month of this year so far and second best August ever.

The insurance-linked securities (ILS) market experienced a strong month of returns in July 2025 according to the ILS Advisers Fund Index, with private ILS funds leading the way and on average now positive for the year to July 31st as a group, having erased the negative effects of California wildfires at the start of the […]

Catastrophe bond funds have outpaced private ILS funds included in the ILS Advisers Fund Index for the first-half of 2025 and across the group of 37 constituent insurance-linked securities (ILS) funds tracked by the Index, the average return for the six months was 2.05%.

Across the insurance-linked securities (ILS) fund sector the month of May 2025 was a positive one, with the average across all private ILS and catastrophe bond funds tracked by the ILS Advisers Fund Index reaching a +0.79% return for the period.

The ILS Advisers Fund Index, which tracks the performance of the insurance-linked securities (ILS) fund sector, has turned positive for the year after April on the back of another strong month of private ILS fund returns.

March 2025 was a positive month for the insurance-linked securities (ILS) fund sector, with a strong 0.82% average return across the sector according to the ILS Advisers Fund Index.

The ILS Advisers Fund Index has reported a +0.17% return for February 2025, but the company has highlighted a second consecutive month where there was a broad dispersion between ILS fund returns and performance, as effects from losses due to the California wildfires continued to flow through the market.

With all the insurance-linked securities (ILS) funds tracked by the ILS Advisers Fund Index now having reported their returns for January 2025, it’s become clear that there was a significant performance gap for the month due to the California wildfire losses.

The ILS Advisers Fund Index has reported a -0.38% return for January 2025 on the back of the recent California wildfire losses. With 75% of ILS fund managers having reported returns for the period so far, the Index could fall further as additional data points from private ILS strategies are included.