Mobilizing Capital at Scale: A Landmark Year for Price Forbes Capital Markets

A year of strong growth, innovative transactions, and deepened client partnerships

Price Forbes Capital Markets enjoyed an exceptional year in 2025, marked by sustained growth, increasing market influence, and the further strengthening of long‑standing client relationships. Throughout the year, the team facilitated a number of high‑profile transactions that underline its commitment to innovation, execution excellence, and the effective mobilisation of capital across the reinsurance and insurance‑linked securities (ILS) markets.

The breadth and sophistication of activity undertaken during the year reflect both the evolving needs of clients and the firm’s ability to connect institutional capital with compelling reinsurance opportunities.

2025 Key Highlights

During the year, Price Forbes Capital Markets:

• Supported Culpeper Capital Partners, facilitating the capitalisation of George Street Re on behalf of QBE
• Raised more than USD 250 million into blue‑chip property catastrophe ILS funds and bespoke investor sidecars
• Raised in excess of USD 150 million into highly innovative casualty sidecar structures
• Advised Mereo on its capitalisation and successful launch in the Bermuda market
• Expanded its relationship with a leading Bermuda‑based global (re)insurer, supporting the raising of Funds at Lloyd’s

These transactions demonstrate Price Forbes Capital Markets’ ability to deliver tailored capital solutions across a wide range of risk classes and structures, while maintaining a consistent focus on client objectives.

Driving Innovation in Casualty ILS

A defining theme of 2025 was the firm’s leadership in driving innovative investment flows into the casualty ILS space. As global investors increasingly seek diversification beyond traditional property catastrophe exposure, casualty ILS has emerged as a compelling area of opportunity.

Price Forbes Capital Markets played a pivotal role in facilitating this shift, connecting sophisticated institutional capital with thoughtfully structured casualty transactions that offer diversification across a broad spectrum of insurance risks. This focus not only supported client growth objectives but also contributed to the continued evolution and maturity of the ILS market.

Leadership Perspective

Commenting on the year, Adam Champion, CEO of Capital Markets, said:

“We are thrilled with the progress achieved in 2025. Our work in the casualty ILS space has been especially rewarding, as we have played a pivotal role in opening attractive investment opportunities for major institutional investors and beyond. While the team has worked tirelessly to deliver the highest levels of client service, we have also been pushing against an open door—Bermuda’s strengths as a premier global capital markets hub are both compelling and easy to demonstrate to investors.

The depth of market expertise and the spirit of innovation within Bermuda continue to inspire confidence among investors worldwide. I am proud that Price Forbes Capital Markets has contributed meaningfully to channelling sophisticated capital into the industry. Our successes are the market’s successes, and it has been a privilege to facilitate so much activity over the past year. This momentum represents a strong vote of confidence in the stability and capability of the ILS market, and these new investment flows will, I am certain, play a pivotal role in shaping the future of the industry.”

Looking Ahead

The achievements of 2025 reflect Price Forbes Capital Markets’ clear strategic focus: delivering innovative capital solutions, supporting client ambitions, and contributing positively to the resilience and evolution of the global reinsurance and ILS markets.

With strong momentum, deep market relationships, and a proven ability to execute complex transactions, the firm enters the coming year well positioned to build on this success and continue driving value for clients and investors alike.