Radix Insurance Linked Strategies (Radix ILS), the recently launched Bermuda-based third-party capital manager and reinsurance capacity deployment company with a technology-first focus, has now had a collateralized insurer class of company registered on the island.
Radix Insurance Linked Strategies (Radix ILS) was founded in 2025 by former Hamilton ILS executive Hanni Ali, working with partners former Walkers Bermuda legal executive Peter Dunlop and software expert Dave Berton.
The company aims to embrace a digital-first approach to enabling partner capital to access the returns of insurance and reinsurance business, by creating direct investment opportunities into insurance-linked risks and with a focus on optimising capital allocations.
Radix ILS said that it has now established Radix Alpha Ltd. as a collateralized insurer class company in Bermuda, its first underwriting vehicle.
“Radix Alpha Ltd., our Bermuda-based collateralized insurer, received conditional approval from the Bermuda Monetary Authority on February 21, 2025.
“We funded the statutory capital, and the registration was issued March 21, 2025,” the company explained.
Radix ILS said it is, “Excited to take this next step and grateful for everyone who helped make this happen. Another building block in place as we continue growing our presence in Bermuda.”
Hanni Ali, CEO of Radix also commented, “Wonderful effort by the Radix ILS team. We now have an insurance company and look forward to supporting our future reinsurance clients in the years to come.”
Ali further explained to Artemis, “We are delighted that in the few short weeks since starting Radix ILS we have been able to work with the BMA to complete our collateralized insurer registration.
“We submitted our application on Monday February 17 and received conditional approval on Friday February 21 a testament to the ability to execute efficiently in Bermuda.
“Following account opening and capitalization I’m pleased that in under two months we’re now in a position where we can write collateralized reinsurance.”
