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Bermuda Stock Exchange speeds listings for insurance-linked securities
The change allows guaranteed next business day approvals for ILS under previously approved programmes, and same day in some cases once documentation is submitted in time and good order.
The Bermuda Stock Exchange (BSX) said it has streamlined its process for listing new insurance-linked securities (ILS) under previously approved programmes, aiming to speed approvals for repeat and renewal issuers. The exchange said the update supports guaranteed next business day listing approval, with same day possible in certain cases when documentation is provided in time and in good order.
The BSX noted that it remains the primary venue for catastrophe bonds and other ILS, citing that after the first quarter of 2026 total cat bond and ILS listings reached over $68.5 billion. It also said $60.9 billion of BSX-listed catastrophe and non-cat ILS represented roughly 95% of the market at the end of March.
Artemis reported the streamlining follows revisions to debt listing regulations from the start of the year and is designed to deliver a quicker listings service for ILS repeat issuers after settlement of issuances. The exchange said new forms and documentation have been provided to listing sponsors, and that the shift is expected to improve the speed of BSX listings for many cat bond securities and other ILS instruments.
The BSX also said its listings enhance transparency and can help demonstrate institutional quality, while serving investor liquidity needs for some participants. Beyond catastrophe bonds, it said it lists preferred notes and shares linked to reinsurance sidecar structures, plus mortgage insurance-linked notes and other ILS instruments.