Artemis Live - Insurance-linked securities (ILS), catastrophe bonds (cat bonds), reinsurance

Artemis.bm

Artemis Live - Discussions with leaders in the catastrophe bond (cat bond), insurance-linked securities (ILS), reinsurance, insurance risk transfer and investments space, as well as updates on the cat bond and ILS industry, explainers and how-to's. Artemis.bm was formally launched in early 1999. Its founders held a belief that the capital markets was the deepest, most liquid and efficient source of risk and reinsurance capital available to facilitate the transfer of disaster and other exposures to investors, and that capital market structures such as cat bonds would be the most effective tools for the structuring and transfer of peak catastrophe risks. Today, Artemis is the longest running news, analysis and data media service devoted to the alternative risk transfer, catastrophe bond & insurance linked security (ILS), non-traditional reinsurance, insurance linked investments and associated risk transfer markets, with more than 60,000 readers every single month. With a wealth of news, cat bond data, analysis and market information, Artemis.bm is the best place to source information related to cat bonds, insurance linked securities and collateralised reinsurance capacity and investing.

  1. 22h ago

    Beyond peak risk: The expanding spectrum of diversification in ILS - Artemis London 2026

    This podcast episode features the third panel discussion of the day at Artemis London 2026, a session focused on achieving diversification within the asset class, from our fifth cat bond and insurance-linked securities (ILS) conference in the City of London, UK, held on September 1st 2026. This panel session was titled “Beyond peak risk: The expanding spectrum of diversification in ILS,” and was moderated by Harry White, Head of PCS, Verisk Insurance Solutions. Joining him for the discussion were: Andre Rzym, Partner and Portfolio Manager, Man Group; Connie Tregidga, Managing Director, Global Structured Solutions, Marsh Re; Chris Wilson, Managing Director, ILS, Cedar Trace Advisers Limited; and Rick Pagnani, Managing Partner & CEO, King Ridge Capital Advisors. The panel discussed a range of strategies for achieving and maintaining diversification within the insurance-linked securities (ILS) market. Key points raised included the definition of boundaries for diversification, balancing novelty against economic value, and the effectiveness of different risk-adjusted return profiles. Experts explored the evolution of diversification within property, casualty, cyber, and terrorism risks, while highlighting the importance of structural and pricing discipline, as well as robust modelling deal with uncertainty. Another topic of focus was the unique liquidity and tail-risk protection provided by catastrophe bonds and ILS, as well as how improvements in the existing structures have enabled the asset class to expand. Listen to the full audio from our Artemis London 2026 conference panel to learn more about our speakers thoughts on what diversification means for investors within the catastrophe bond and ILS asset class and how it can be achieved.

    Beyond peak risk: The expanding spectrum of diversification in ILS - Artemis London 2026

  2. Oct 8

    From hard market to normalisation: Cat bond discipline in practice - Artemis London 2026

    This episode features the second panel discussion of the day at Artemis London 2026, a session focused on the catastrophe bond market, from our fifth cat bond and insurance-linked securities (ILS) conference in the City of London, UK, held on September 1st 2026. This panel session was titled “From hard market to normalisation: Cat bond discipline in practice,” and was moderated by Nils Ossenbrink, Head of Distribution and Products, Twelve Securis. Joining him for the discussion were: Florian Steiger, CEO, Icosa Investments AG; Charlotte Acton, Senior Director, Risk Advisory, Moody’s; John DeCaro, Founding Partner, Elementum Advisors; and Jonathan Gray, Chief Underwriting Officer, Pool Re. The discussion explored the current status of a growing and evolving catastrophe bond market, focusing on “normalisation” and “discipline”. While market multiples have fallen, experts argued that structural discipline remains firm despite softening prices driven by high capital inflows across the reinsurance sector. Panellists highlighted that while pricing is a function of supply and demand, true discipline requires rigorous risk assessment and robust modelling, particularly for secondary perils like wildfires or terrorism. In addition, the subject of price discovery was explored, with speakers debating whether there is sufficient transparency in the issuance process regarding size, price and timing when order books are regularly oversubscribed and spreads tighten multiple times. The discussion emphasised that improved analytical granularity and transparency are essential as investors seek higher returns. Ultimately, successful participation depends on balancing quantitative data with qualitative due diligence to ensure adequate risk-adjusted returns, as well as alignment, in a competitive landscape. Listen to this podcast episode for audio from our Artemis London 2026 conference, to learn more about the current state of the catastrophe bond market and our expert speakers thoughts on discipline through the softening market phase.

    From hard market to normalisation: Cat bond discipline in practice - Artemis London 2026

  3. Sep 28

    Unlocking capital at Lloyd's: Evolution of London Bridge ILS platform - Artemis London 2026

    This episode features the first panel discussion of the day at Artemis London 2026, a session focused on the the Lloyd's ILS structure London Bridge, from our fifth catastrophe bond and insurance-linked securities (ILS) conference in the City of London, UK, held on September 1st 2026.  This panel session was titled “Unlocking capital at Lloyd’s: Evolving use-cases of the London Bridge ILS platform,” and was moderated by Ed Saul, SVP, Senior Client Partner, Artex Capital Solutions. He was joined on stage by panellists: Angus Jordan, Senior Manager London Bridge. Chairman, London Bridge 2 and LB Risk PCCs, Lloyd's; Lauren Johnson, Head of Funds at Lloyd’s, Acrisure Re Corporate Advisory & Solutions; Deepon Sen Gupta, Head of Capital Partnerships, OAK Global; and Perry Thomas, Chief Executive Officer, Flood Re.  This session explored the evolution and strategic expansion of the London Bridge insurance-linked securities (ILS) platform within the Lloyd’s insurance and reinsurance market.  Speakers discussed why insurance-linked securities technology is gaining traction within the Lloyd’s ecosystem. Subjects touched on included the capital efficiency of Funds at Lloyd’s, noting their attractiveness to institutional investors due to efficiency in accessing business and Lloyd’s historically strong and diversifying returns.  The discussion highlighted recent innovations, including catastrophe bonds issued under London Bridge and the use of Letters of Credit to optimise capital stacks.  Looking forward, the panel identified potential growth opportunities for the London Bridge ILS platform in sidecars, excess of loss covers, and more flexible reinsurance structures.  Ultimately, the session emphasised how London Bridge serves as a vital enabler for diversifying capital sources within the Lloyd’s market and how this can support creative underwriting and business expansion, as well as discussing the potential for enhancement of the opportunities available through regulatory collaboration.  Listen to this discussion from our Artemis London 2026 conference to learn more about the evolution of investing into the Lloyd's insurance and reinsurance market using its London Bridge ILS structure.

    Unlocking capital at Lloyd's: Evolution of London Bridge ILS platform - Artemis London 2026

  4. Sep 17

    Reinsurance price adequacy key in evolving risk landscape: Urs Baertschi, Swiss Re

    In the run up to the 2026 edition of the annual Monte Carlo Rendez-vous event, our sister publication Reinsurance News spoke with Urs Baertschi, Chief Executive Officer (CEO) of Property & Casualty (P&C) Reinsurance at industry giant Swiss Re to gauge his views on the state of the market.  With the global reinsurance market transitioning to a more competitive state, Baertschi highlighted that what’s important across the re/insurance value chain is charging an adequate rate.  He explained in this interview that supply and demand factors are driving the market, but that given the uncertain world we live in there is new demand for protection being seen.  On the state of the market, Baertschi said, "It's not just one market; it's many micro cycles, and those different perspectives on the same environment actually creates that market."  Listen to this episode to learn more from Urs Baertschi of Swiss Re on the state of the global reinsurance market, the end of year renewal outlook and Swiss Re's priorities for the rest of this year and into 2027.

    Reinsurance price adequacy key in evolving risk landscape: Urs Baertschi, Swiss Re

  5. Apr 27

    Expanding the ILS perimeter - New risks, new markets, new capital: ILS NYC 2026

    This podcast episode features another panel discussion that was held at the Artemis ILS NYC 2026 event, our tenth catastrophe bond and insurance-linked securities (ILS) conference in the ILS NYC series, held on February 6th 2026 in New York. This panel was focused on the expansion of the ILS asset class in terms of its product offerings, titled "Expanding the ILS perimeter: New risks, new markets, new capital." This expansion of the ILS asset class focused panel discussion was kindly moderated by Kathleen Faries, CEO, Artex Capital Solutions. She was joined on stage by: Joanna Syroka, Director of New Markets, Fermat Capital Management, LLC; Chris McKeown, Chief Executive, Reinsurance, ILS & Innovation, Vantage Risk; Danny Arnett, Managing Director, Insurance Linked Securities, Ryan Specialty Underwriting Managers; and Bob Forness, CEO, MultiStrat Group. Our panellists discussed the evolution and future prospects of the insurance-linked securities (ILS) market, highlighting its expansion from property catastrophe into casualty, specialty, and cyber lines. The discussion placed great emphasis on the importance of underwriting discipline, capital management, and alignment with investors, particularly in new market opportunities that are expected to grow, such as risk transfer for data centre projects and cyber insurance. The panellists also discussed the need for efficient operational infrastructure and the potential for ILS to become an increasingly tradable asset class. The fact protection gaps are much more prevalent than just in natural catastrophe risks was also pointed out, with opportunities emerging across many lines of insurance and reinsurance given the need for capital and capacity to support the traditional industries growth. While opportunities like the AI data centre build-out may present completely net-new chances for the ILS market to deploy its capital in time. On the casualty ILS side, speakers explained the need for transparency, alignment, and patience in managing longer-term risks. Listen to this podcast episode from our Artemis ILS NYC 2026 conference to learn more about the growing range of opportunities for investors, as the insurance-linked securities (ILS) asset class expands.

    Expanding the ILS perimeter - New risks, new markets, new capital: ILS NYC 2026

  6. Apr 9

    Catastrophe bonds - Maintaining an equilibrium in value, for sponsors & investors: ILS NYC 2026

    This episode features another of our panel discussions at Artemis ILS NYC 2026, our tenth catastrophe bond and insurance-linked securities (ILS) conference in the ILS NYC series, held on February 6th 2026 in New York. This panel was focused on the catastrophe bond market segment and titled "Cat bonds: Maintaining an equilibrium in value, for both sponsors and investors." This cat bond focused panel discussion was kindly moderated by Philipp Kusche, Chairman HCMA Europe, Global Co-Head ILS, Howden Capital Markets & Advisory. He was joined on stage by: Stephan Ruoff, Co-Head of Private Debt & Credit Alternatives, Chairman ILS, Schroders Capital; Michael Bennett, Global Head Market Solutions & Structured Finance, World Bank; Niklaus Hilti, Chief Investment Officer, Euler ILS Partners; and Paul VanderMarck, Chief Technology & Innovation Officer, SageSure. Our panellists explored the current state of the catastrophe bond market and the need to balance investor and sponsor demands, highlighting a record-fast spread tightening in recent months and still-increasing interest from an increasingly broad range of investors. Key points included the impact of investor interest on the cat bond asset class from both traditional allocators, as well as newer types of quantitative investors and wealth platforms. The discussion covered the importance of capacity and pricing, the need for continued evolution in parametric cat bond triggers, and the challenges of managing liquidity in the market. Panellists suggested that future growth predictions for the cat bond market ranged from 5-10% annually, sometimes higher, with a goal of reaching an asset class sized at around $100 billion in outstanding cat bonds by 2030. They also discussed the importance of managing capacity against demand and how this could become a challenge as the cat bond market grows, as well as the need to keep improving secondary market liquidity and functionality. Listen to the full audio of this panel discussion from our Artemis ILS NYC 2026 conference to learn more about conditions in the catastrophe bond marketplace, from the perspective of both investors and sponsors.

    Catastrophe bonds - Maintaining an equilibrium in value, for sponsors & investors: ILS NYC 2026

  7. Mar 5

    Private ILS - Achieving portfolio discipline and resilience through the cycle: ILS NYC 2026

    This episode features audio from the first panel discussion of the day at Artemis ILS NYC 2026, our tenth catastrophe bond and insurance-linked securities (ILS) conference in the ILS NYC series, held on February 6th 2026 in New York. The panel was focused on the private insurance-linked securities market segment and titled Private ILS: Achieving portfolio discipline and resilience through the cycle. This private insurance-linked securities panel discussion was kindly moderated by Lorenzo Volpi, Deputy CEO and Managing Partner, Leadenhall Capital Partners LLP. He was joined on stage by: Jessica Laird, CEO, Nephila Capital; Michael Stahel, Partner/Portfolio Manager, LGT ILS Partners Ltd.; Eveline Takken-Somers, Head of Insurance Linked Investments, PGGM; and Dr. Raffaele Dell’Amore, Investment Managing Director, Global Head ILS Research, Cambridge Associates. Our panellists explored the track-record of private placements in ILS, which has been particularly impressive in recent years. They noted the still healthy premium environment, despite recent softening in reinsurance markets, believing strong performance can continue as long as portfolio discipline is maintained.  The discussion also covered the attractiveness of private insurance linked securities placements versus catastrophe bonds, the importance of transparency and trust, as well as in educating new investors, or those looking to move on from cat bond strategies. Speakers also noted that the capital raising environment remains more challenged in private ILS and blended strategies, than for pure cat bond funds. But there was a general belief that conditions continue to improve and the track-record of private ILS fund strategies is now attracting increasing attention from institutional investors. Listen to the full podcast episode from our Artemis ILS NYC 2026 conference to learn more about conditions in the private insurance-linked securities (ILS) marketplace and investors attraction to private reinsurance investment opportunities.

    Private ILS - Achieving portfolio discipline and resilience through the cycle: ILS NYC 2026

  8. Feb 12

    Artemis ILS NYC 2026 conference review

    On February 6th 2026, Artemis held its tenth conference in the NYC series in Midtown Manhattan, New York City. With over 450 registered attendees, it was the largest catastrophe bond and insurance-linked securities market conference hosted by Artemis to-date. Using the power of AI, you can now listen to a review of the conference that provides insights into the main themes of discussion during the panel sessions at the event. Please note, being AI generated this is embellished somewhat, but it does provide an accurate representation of discussions that took place, key themes that emerged and how the conference went on the day. It’s clear from the discussions had at the conference that the insurance-linked securities (ILS) market is in good health, but still has a lot more it can do to meet its potential. Opportunities abound, but the need to meet them with discipline remains critical, to ensure the resilience and sustainability of the ILS product offering for both protection buyers and investors. At the same time, the industry has a clear need to continue its process of educating customers on both sides of the trade, while also explaining the beneficial way capital markets can play a growing role in global insurance, reinsurance and risk transfer. While the ILS market is in good health and considerably more mature in 2026, it still has the potential to grow and evolve much further, to play an increasingly important role by embedding itself ever more deeply into global risk and reinsurance capital provision.

    Artemis ILS NYC 2026 conference review
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About

Artemis Live - Discussions with leaders in the catastrophe bond (cat bond), insurance-linked securities (ILS), reinsurance, insurance risk transfer and investments space, as well as updates on the cat bond and ILS industry, explainers and how-to's. Artemis.bm was formally launched in early 1999. Its founders held a belief that the capital markets was the deepest, most liquid and efficient source of risk and reinsurance capital available to facilitate the transfer of disaster and other exposures to investors, and that capital market structures such as cat bonds would be the most effective tools for the structuring and transfer of peak catastrophe risks. Today, Artemis is the longest running news, analysis and data media service devoted to the alternative risk transfer, catastrophe bond & insurance linked security (ILS), non-traditional reinsurance, insurance linked investments and associated risk transfer markets, with more than 60,000 readers every single month. With a wealth of news, cat bond data, analysis and market information, Artemis.bm is the best place to source information related to cat bonds, insurance linked securities and collateralised reinsurance capacity and investing.

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