207: Private ILS - Achieving portfolio discipline and resilience through the cycle: ILS NYC 2026

This episode features audio from the first panel discussion of the day at Artemis ILS NYC 2026, our tenth catastrophe bond and insurance-linked securities (ILS) conference in the ILS NYC series, held on February 6th 2026 in New York.

The panel was focused on the private insurance-linked securities market segment and titled Private ILS: Achieving portfolio discipline and resilience through the cycle.

This private insurance-linked securities panel discussion was kindly moderated by Lorenzo Volpi, Deputy CEO and Managing Partner, Leadenhall Capital Partners LLP.

He was joined on stage by: Jessica Laird, CEO, Nephila Capital; Michael Stahel, Partner/Portfolio Manager, LGT ILS Partners Ltd.; Eveline Takken-Somers, Head of Insurance Linked Investments, PGGM; and Dr. Raffaele Dell’Amore, Investment Managing Director, Global Head ILS Research, Cambridge Associates.

Our panellists explored the track-record of private placements in ILS, which has been particularly impressive in recent years. They noted the still healthy premium environment, despite recent softening in reinsurance markets, believing strong performance can continue as long as portfolio discipline is maintained. 

The discussion also covered the attractiveness of private insurance linked securities placements versus catastrophe bonds, the importance of transparency and trust, as well as in educating new investors, or those looking to move on from cat bond strategies.

Speakers also noted that the capital raising environment remains more challenged in private ILS and blended strategies, than for pure cat bond funds. But there was a general belief that conditions continue to improve and the track-record of private ILS fund strategies is now attracting increasing attention from institutional investors.

Listen to the full podcast episode from our Artemis ILS NYC 2026 conference to learn more about conditions in the private insurance-linked securities (ILS) marketplace and investors attraction to private reinsurance investment opportunities.