Private ILS heads into Jan renewals with increased capacity and technical discipline: Doris, Twelve Securis

The private insurance-linked securities (ILS) market is approaching the January renewals from a strong standpoint, with capacity projected to be marginally higher, which may exert some pricing pressure. However, according to Cahal Doris, CIO Private ILS at Twelve Securis, the firm still expects to observe technical discipline within the market.

Within the wider ILS market, private ILS strategies, such as collateralized reinsurance, retrocession and other privately negotiated placements, have shown demonstrated heightened activity and investor engagement throughout 2025.

Reflecting on this momentum, Artemis spoke to Doris who shared what opportunities the ILS manager foresees for the private ILS sector for the 1/1 renewals, whilst also providing an outlook for the sector for 2026.

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