Private insurance-linked securities news

While catastrophe bonds remain an attractive source of diversifying returns, investors focusing solely on public markets are overlooking a massive portion of the market. According to Cahal Doris, CIO of Private ILS at Twelve Securis, combining liquid cat bonds with selectively sourced private ILS is key to unlocking broader diversification and improving long-term, risk-adjusted returns.

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.

Franklin Templeton Investment Solutions, the hedge fund-focused arm of the global asset manager, has updated its stance on catastrophe bonds from ‘overweight’ to ‘strongly overweight’ for Q3 2026, citing the asset class’s attractiveness, while its stance on other ILS remains unchanged at ‘neutral’

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.

CalPERS, the largest public pension fund in the United States, had previously disclosed investments in catastrophe bond and insurance-linked securities (ILS) fund strategies valued at $1.451 billion at the end of 2025, but new documents seen by Artemis show that the giant investor had further room to grow in the asset class.

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.