Private ILS transaction news

Primary catastrophe bond market activity is set for a strong final quarter in 2026, driven by expectations for a strong pipeline and how the lower spread environment may encourage more sponsors to enter the market, according to Sidney Rostan, Head of ILS Strategies at SCOR Investment Partners.

Insurance-linked securities (ILS) experts and leaders continue to see strong investor interest across the board, and with the total return of the cat bond market remaining attractive, appetite is deemed robust.

Artex Axcell Re, the Bermuda domiciled Artex Risk Solutions operated risk transformer entity, has brought another new private catastrophe bond transaction to market, with $20 million of Artex Axcell Re – PI0055 Grantham notes successfully issued and placed.

Artex Axcell Re, the Bermuda domiciled Artex Risk Solutions operated risk transformer entity, has issued another new private catastrophe bond transaction, with $60 million of Artex Axcell Re (Series FE0004) notes coming to market.

With the Monetary Authority of Singapore (MAS) now having launched its awaited consultation on a Protect Cell Company (PCC) structure that will be suited to efficient insurance-linked securities issuance, collateralised reinsurance and sidecars, Regional Director George Ong of Aon has highlighted the opportunity this presents.

An awaited consultation process on the regulatory framework for a Protected Cell Company (PCC) structure that can be used for collateralised reinsurance arrangements, including sidecars, and efficient insurance-linked securities (ILS) issuance has now been launched by the Monetary Authority of Singapore (MAS).

The Monetary Authority of Singapore (MAS) has signalled that a long-awaited consultation on new laws to establish a Protected Cell Company (PCC) structure that could be used for collateralised reinsurance arrangements and efficient insurance-linked securities (ILS) issuance is coming soon.

A new private catastrophe bond has come to market via an Aon operated White Rock Insurance entity that we believe to be domiciled in Guernsey, with a $14.85 million tranche of Raptor Re 2026-1 notes privately placed with qualified investors.

Another new Japanese denominated private catastrophe bond arrangement has been issued by Artex Axcell Re, the Bermuda based Artex Risk Solutions operated transformer entity, with the roughly US $3.8 million Artex Axcell Re (Series FE0005) transaction potentially another renewal of a recently matured private cat bond deal.

Paul Barker, Partner and Chief Investment Officer, Private ILS at alternative investment manager Elementum Advisors, LLC, explores how the specialist insurance-linked securities (ILS) manager positions itself within a competitive landscape, and how its approach has adapted amid an increasingly sophisticated investor base.