Bermuda is shoring up its position at the centre of the global insurance-linked securities market, with fresh data showing a steady surge in alternative capital and a pipeline of new structures into 2026.

The Bermuda Monetary Authority said its latest market statistics point to expanding demand for Bermudian-based vehicles among global investors interested in taking on re/insurance risk.

Bermuda insurers accounted for about 92 per cent of global alternative capital in 2024, according to industry data.

Within the domestic funds market, ILS is also gaining ground. ILS funds now represent roughly 8 per cent of regulated funds, up from 5 per cent a year earlier, with total net asset value reaching $13.71 billion.

Early figures for 2026 suggest that momentum is continuing. In the first quarter alone, seven new special purpose insurers and two collateralised insurers were registered, following a total of 35 formed in 2025.

The BMA attributed the growth to demand for fully collateralised reinsurance and capital markets structures, especially those used in catastrophe risk transfer.

“Bermuda continues to serve as a premier jurisdiction for connecting global capital to insurance and reinsurance risks,” said Mellisa Burgess, director of supervision at the BMA.

The Authority said the speed of its regulatory framework is a key competitive advantage, noting that approvals for SPIs involved in catastrophe bond transactions can typically be completed within three days.

With so much demand for alternative capital structures, the figures point to an active market heading into the remainder of 2026.