Insurance linked securities investment manager news

As the catastrophe bond market continues to expand into new perils and more complex structures, broad and credible modelling coverage becomes highly important. However, reinsurer Swiss Re’s proprietary catastrophe models allow the firm to analyse a wider range of risks, which according to executives expands the “investable universe” while maintaining a well-understood risk-return profile.

Nephila Capital contributed an impressive $159.2 million in fund management revenues to its parent Markel in 2025, with the figure having risen 68% over the prior year and Tom Gayner, Markel CEO, said the ILS unit “delivered” for its investors as well.

Elementum Advisors, LLC, an alternative investment manager that specialises in collateralized natural catastrophe reinsurance, entered 2026 with its assets under management increased to $3.8 billion, despite stakeholder White Mountains having reduced its investment in the Elementum ILS funds again.

Third-party investor capital under management in RenaissanceRe Capital Partners range of reinsurance joint-ventures and insurance-linked securities strategies reached a new all-time high of just over $9 billion at the end of 2025, before dropping slightly as 2026 began and the manager returned profits to some investors.

Everest Group, the global insurance and reinsurance specialist, benefited from a $35 million dividend payment from its Mt. Logan Re Ltd., third-party capitalised sidecar-like structure in 2025, while also earning $7 million of income from its investment into specific Mt. Logan Re cells.

Lumen Re’s, successful sponsorship of its first Rule 144A catastrophe bond, the $175 million Photon Re Ltd. (Series 2026-1) issuance, represents a natural evolution of the firm’s risk‑transfer strategy, and marks an important strengthening of its overall risk framework, CUO Klaus Sapelza said today.

While the insurance-linked securities (ILS) business at Hiscox Capital Partners has seen its headline assets under management (AUM) figure rise, this underplays the fact deployable ILS capital has risen more thanks to returns of older capital being outpaced by new flows, and Hiscox Group’s CEO believes the deployable total will keep growing.

Hiscox Capital Partners, the division of Hiscox Re that encompasses insurance-linked securities (ILS) investments and quota-share partnerships, lifted its ILS assets under management (AUM) to $1.5 billion at January 1st 2026, as $330 million of inflows over the last year served to increase deployable capital for the unit.

Plenum Investments, the Zurich based specialist catastrophe bond and insurance-linked securities (ILS) investment manager, has reached a new milestone with more than US $2 billion of assets under management across its funds and strategies for the first time.

Lumen Re, the main reinsurance underwriting entity of LGT ILS Partners, has now successfully priced its debut Photon Re Ltd. (Series 2026-1) catastrophe bond issuance below guidance, securing $175 million in retrocessional protection against losses from North American peak perils, Artemis can report.