Home›Insurance›Reinsurance›Fermat Capital Management tops $11 billion in cat bond…

Fermat Capital Management tops $11 billion in cat bond and ILS AUM

The manager added about $1.1 billion of ILS assets over roughly six months and attributes growth to new investor inflows plus coupon returns.

Reported · Written up by our desk · Reinsurance

Fermat Capital Management, a specialist catastrophe bond and insurance-linked securities investment manager, has surpassed $11 billion in cat bond and ILS assets under management, according to Artemis.

Artemis reports that Fermat added around $1.1 billion in ILS AUM over roughly six months, taking it from $9.9 billion at the end of 2025 to $11 billion by July 1, 2026. That level represents an 11.0% expansion of ILS assets managed this year so far.

Artemis adds that Fermat’s AUM gains were supported by new inflows into its catastrophe bond funds and other ILS strategies, along with coupon returns that bolstered the portfolio over recent months.

Artemis says Fermat has also expanded its product lineup, including growing a UCITS catastrophe bond fund strategy to almost $2.9 billion in AUM since its 2024 launch, and establishing a casualty ILS business in 2024 beyond natural catastrophe risks. The outlet also notes Fermat launched a United States domiciled cat bond fund structure and launched additional commingled ILS strategies in early 2025.

More like this

Sources