ILS Convergence 2026 opened today at the Hamilton Princess Hotel and Beach Club with an investors-only track focusing on the evolution and development of insurance linked securities (ILS) over the last decade and what is expected for the future.

Artemis.bm, the online news and data platform focused on catastrophe bonds, ILS, alternative reinsurance capital, and risk transfer markets, reported today: “The Bermuda Stock Exchange (BSX) continues to be the most important listing venue for the catastrophe bond and ILS market.”

Artemis said the BSX listed 169 new catastrophe bond notes and ILS structures in the first three-quarters of the year totalling nearly $17.8 billion.

By then, the BSX was the home to 731 cat bonds and related ILS listings, almost 93 per cent of the total addressable market of catastrophe bond securities, which amounted to $67.4 billion.

Bermuda’s importance in this business is reflected in this week’s conference where industry leaders, investors, and innovators are meeting to exchange ideas and shape the future of the market.

Adam Champion, executive vice-president, capital markets, Price Forbes Re was tasked with facilitating a discussion involving Brad Adderley, partner, Appleby; Kathleen Faries, CEO, Artex Capital Solutions; Philipp Kusche, chairman of HCMA Europe and global co-head of ILS, Howden Capital Markets & Advisory; and, Michael Pinsel, partner, Sidley.

Up for discussion was the considered future for ILS and risk-linked investing. The conference underscored how the ILS market evolved from a niche allocation to an established component of many institutional portfolios.

As the asset class matures, investors are placing greater emphasis on issues such as liquidity, flexibility, transparency and portfolio diversification, while continuing to seek attractive risk-adjusted returns.

Changing expectations were on the agenda for a discussion facilitated by Chantal Berendsen, partner and senior HF IDD analyst for insurance, Albourne Partners.

Panellists included Joe Tolen, senior investment director, Cambridge Associates, and Nidhi Sharma, director and senior portfolio manager for alpha alternatives at PSP Investments.

The conference opens its participation to the full list of delegates tomorrow to hear details of hurricanes, understanding the science behind them, what influences them and new methods to improve prediction.

It will include keynote lessons from Vice Admiral Nancy Hann of the National Oceanic and Atmospheric Administration, looking at the NOAA missions, technology and people helping society better understand and prepare for risk.