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Sidecars

Five themes for ILS from Q3 earnings

abstract finance data earnings results.png
Carriers are grappling with a rush of investor interest in longer-tail lines.
Liz Bury, 17 November 2025
  • ILS managers
    aspen logo.png
    Aspen Capital Markets grows fee income 6.4% to $47mn in Q3
    On a nine month basis, fee income was up nearly 30% to $146mn.
    14 November 2025
  • Catastrophe bonds
    swiss-re-building.jpg
    Swiss Re will not renew its $50mn Matterhorn Re cyber retro bond
    The vehicle will now cover an E&S program jointly launched with Accredited.
    12 November 2025
  • Digests
    Weekly Digest: Top ILS news
    14 November 2025
  • Sidecars
    Everest halved premiums ceded to Mt Logan to $115mn in Q3
    12 November 2025
  • Catastrophe bonds
    Moody’s Ratings finalises new cat-bond methodology
    12 November 2025
  • Catastrophe bonds
    CA Fair Plan seeks $250mn wildfire protection with Golden Bear Re bond
    12 November 2025
  • Re/insurers
    Munich Re expects mid-triple-digit-million-euro loss from Melissa
    11 November 2025
Opinion
Opinion
  • fiona_robertson_bw_2024.png
    The carrier-plus model is coming to the fore
    Fiona Robertson
  • Light grey tile.PNG
    As the fundraising outlook brightens, managers’ focus is turning to how they will navigate rate reductions
    Liz Bury
  • Light grey tile.PNG
    Capital-light, fee-based income was a pull factor in Sompo’s Aspen acquisition
    Liz Bury
Featured and most read

Featured and most read

Featured
Cat bond weekly

Cat bond market sparks into life as $1bn of new limit enters

One William Street priced its debut cat bond 13% below the midpoint of guidance.
Jai Singh, 10 November 2025
cat bond weekly briefing
Most read
  • Five themes for ILS from Q3 earnings

  • Weekly Digest: Top ILS news

  • Aspen Capital Markets grows fee income 6.4% to $47mn in Q3

  • Swiss Re will not renew its $50mn Matterhorn Re cyber retro bond

  • Everest halved premiums ceded to Mt Logan to $115mn in Q3

  • Moody’s Ratings finalises new cat-bond methodology

Analysis
Analysis
Catastrophe bonds
cat bond weekly briefing
Cat bond pace builds steam with $1.42bn of limit entering the market
The average weighted spread on the deals was 651bps, skewed upward by cyber and wildfire deals.
Jai Singh, 17 November 2025
ILS managers
graph money.jpg
Fundraising outlook: New ILS investors still favouring cat bonds
Some experienced investors are pivoting out of cat bonds and into the top layers of private ILS deals.
Jai Singh, 03 November 2025
Cat bond weekly
cat bond weekly briefing
One William St takes new cat bond sponsors to 12 for 2025
So far this year, there have been 11 first-time sponsors to place a deal.
Jai Singh, 27 October 2025
Cat bond weekly
cat bond weekly briefing
Cat bond spreads face pressure as market deals with abundant capital
Spreads on USAA’s latest deal priced below comparative issuances in 2023-2024.
Jai Singh, 20 October 2025
Conferences & awards
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New York Conference 2026 | Add to calendar

23 April 2026
New York

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Upcoming webinars

Upcoming webinars

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    In Partnership with Moody's
    [Webinar] Unlocking precision: How granular data is transforming property underwriting
    09 October 2025
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    In Partnership with M&A Services
    [Webinar] Sleeping assets awaken: Monetising dormant insurance shells
    10 October 2025
  • Insider On Air
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    In Partnership with Moody's
    [Webinar] Smarter models powering insurance innovation against growing SCS threat
    31 October 2025
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