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First-half 2026 Bermuda cat bond registrations rise as new sponsors join
Bermuda Monetary Authority data shows 15 new insurance-linked security and reinsurance-capital company registrations in H1 2026, with 10 structured for catastrophe bond issuances.
Bermuda saw strong first-half 2026 registration activity tied to catastrophe bonds and insurance-linked securities, according to data cited by Artemis. While the total number of identifiable insurance-linked security or alternative reinsurance capital registrations dipped slightly versus the prior year, the first-time catastrophe bond sponsor cohort supported overall momentum.
Artemis reports that the Bermuda Monetary Authority identified 15 new company registrations in the first half of 2026 that could be linked to ILS use cases or other alternative reinsurance capital structures. Of those, 12 were restricted special purpose insurers, or SPIs.
The registrations included 10 SPIs established for catastrophe bond issuances, plus other structures such as a quota share or sidecar partnership structure involving PGGM and PartnerRe, and an issuer for mortgage insurance-linked notes sponsored by MGIC. Artemis says seven of the 10 catastrophe bond-focused SPIs were set up for debut, first-time sponsors, a sign of continued sponsor entry and cat bond market acceptance.
In addition to the SPIs, Artemis notes three collateralized insurer registrations during the period, including casualty ILS or sidecar-focused vehicles. It points to AXIS Capital launching a new Monarch Point Re in January and Everest Group creating Annapurna Re Ltd., as part of the H1 2026 activity.