In April 2026, our sister publication Artemis held its seventh Bermuda ILS Executive Roundtable in Hamilton, where leaders and experts in the insurance-linked securities (ILS) and reinsurance industries discussed current market trends and future opportunities.
In partnership with international law firm Appleby and global provider of data, intelligence and analytics tools Moody’s Analytics, the Artemis Bermuda ILS Executive Roundtable 2026 report is now available for free download.
This year’s roundtable brings together seven ILS market experts representing different parts of the ecosystem, from fund managers to legal departments, to discuss the momentum of cat bonds and ILS following a record-breaking 2025 and busy start to 2026, as well as Bermuda’s continued importance in the market.
Speakers emphasized that the continued momentum in the catastrophe bond market is driven by strong demand from repeat and first-time sponsors. They also noted that new risks are increasingly being incorporated, supported by advances in catastrophe modeling and growing sponsor and investor confidence in the asset class.
“Last year was obviously a great year for the market. If I think about what we’ve seen this year, I feel like as a law firm we’re sending out a catastrophe bond quote once a week,” said roundtable participant Brad Adderley, Appleby’s Bermuda managing partner. “We’re also seeing new risk categories being incorporated into catastrophe bonds. We’ve gone to the BMA more than once to ask if X or Y could be added. That means people are thinking differently and I guess investors are happy to take on new risks as part of a set of risks.”
The discussion also explored the extent to which catastrophe bonds are becoming a mainstream investment product, with participants considering whether developments such as rated bonds, collective ILS issuance and greater secondary market liquidity could attract new sources of capital and further broaden the market’s attractiveness.
Christer Pehrson, global head of client and market development for ILS, Moody’s Analytics, said: “Moody’s RMS catastrophe model is a market leader, providing a robust approach to risk quantification, and we are seeing investors increasingly willing to take on this risk. We expect the cat bond market to become more mainstream in fixed income, which will attract new capital, support growth and help close the protection gap.”
Positive developments in the private ILS market were also highlighted, including growing investor demand for single fund structures and wider acceptance of ILS solutions as part of the risk transfer sector.
Another key theme is casualty ILS, with executives acknowledging the huge growth potential in this area but also noting challenges compared to property catastrophe risks, including modeling complexity and lengthy transaction timelines.
Attendees also discussed how businesses can maintain a competitive advantage in the current environment, emphasizing the importance of transparency, data quality, analytics and operational efficiency. Looking ahead, they highlighted areas to focus on as the market continues to develop and expand.
Download a copy of the 2026 Artemis Bermuda ILS Executive Roundtable Report or read previous Artemis Executive Roundtable reports here.
