Welcome to Artemis’ 2026 Bermuda ILS Executive Roundtable, during which leaders and experts from across the insurance-linked securities sector discussed the momentum being seen in catastrophe bonds and ILS this year, as well as the continued importance of Bermuda’s role in the market.
Artemis held its seventh Bermuda insurance-linked securities (ILS) executive roundtable in Hamilton in April, bringing together leaders from across the expanding sector to discuss current market trends and future opportunities.
Seven ILS market experts representing different parts of the ecosystem, from fund managers to legal, shared their perspectives on the state of the market following a record-breaking 2025 and a busy start to 2026.
Speakers highlighted the continued momentum in the catastrophe bond market, driven by strong demand from both repeat and first-time sponsors. Participants also noted the growing inclusion of new risks, supported by advances in catastrophe modelling and increasing confidence in the asset class among sponsors and investors alike.
The discussion also explored the extent to which catastrophe bonds have become a mainstream investment product. Participants considered whether developments such as rated bonds, pooled ILS offerings, and greater liquidity through secondary market trading could attract new sources of capital and further broaden the market’s appeal.
Positive developments within the private ILS side of the market were also highlighted, including rising investor demand for fund-of-one structures and a broader acceptance of ILS solutions as part of the risk transfer landscape.
Casualty ILS was another key topic of discussion. The executives acknowledged the significant opportunity for growth in the segment but also emphasised the challenges compared with property catastrophe risks, including modelling complexities and lengthy transaction timelines.
Participants also shared their views on how firms can maintain a competitive edge in the current environment, highlighting the importance of transparency, data quality, analytics, and operational efficiency. Looking ahead, they discussed areas where the market should focus its efforts as it continues to evolve and expand.
For this year’s Artemis Bermuda ILS Executive Roundtable, we were joined by the following participants:
- Brad Adderley, Managing Partner Bermuda, Appleby.
- Christer Pehrson, Global Head ILS Client & Market Development, Moody’s Analytics.
- Adam Smith, Partner and Insurance Sector Lead for KPMG Islands Group.
- Adam Champion, CEO, Capital Markets, Price Forbes Re.
- Laura Taylor, President, Nephila Holdings.
- Ben Adolph, Chief Underwriting Officer (Non-Life), Leadenhall Capital Partners.
- Niraj Patel, Head of AXA XL Alternative Capital, ILS Capital Management Unit.
Download your copy of the 2026 Artemis Bermuda ILS Executive Roundtable here.
Reports from previous Artemis executive roundtable events can be downloaded here.
