Investment banking giant Goldman Sachs has hired two experienced catastrophe bond and insurance-linked securities (ILS) structuring specialists, as it looks to expand its capabilities in the space once again, Artemis has learned.Goldman Sachs is bringing onboard two hires with experience in the structuring and placement of catastrophe bond and reinsurance capital market arrangements this month, one being hired from Aon Securities, the other from Swiss Re Capital Markets, we understand.The investment bank had slowed its activity in catastrophe bond and insurance-linked securities (ILS) structuring and placement services in recent years, with the Goldman Sachs name also less frequently seen within other areas of the market such as reinsurance sidecars.In fact, the last time we saw Goldman Sachs involved in a new catastrophe bond issuance was back in an Allstate sponsored Sanders Re issuance in the third-quarter of 2024.

The investment bank has so far been absent from the busy issuance pipeline of 2025 and its name has disappeared off the broker-dealer roster for a number of major cat bond programs, where it had previously been a consistent fixture over previous years.But, seemingly with the increased activity levels being seen, Goldman Sachs’ interest has rekindled and it appears to be rebuilding its specialist desk capabilities for cat bonds and ILS, hiring a new team to assist in the delivery of services to this market.In no particular order, these new hires at Goldman Sachs are joining the company from established catastrophe bond and ILS investment banking desks at major global reinsurance market participants.

First, Matthew Gewing, formerly a Director of Insurance Linked Securities at Aon Securities, the investment banking arm of the insurance and reinsurance broker.Gewing has worked in insurance-linked securities (ILS) structuring since 2020, prior to which he worked in the catastrophe modelling world.From 2013 to 2020, Gewing worked at AIR Worldwide, now Verisk Extreme Event Solutions, in increasingly senior roles as a risk consultant and manager, helping clients in the insurance and reinsurance market understand and adopt the firms catastrophe risk models.

In 2020, Gewing joined Swiss Re Capital Markets as a Vice President and Senior ILS Structurer.Then in 2022 he joined Aon Securities in his most recent role as a Director of Insurance-Linked Securities.The second hire joining Goldman Sachs is Arjun Gupta, previously a Vice President at Swiss Re Capital Markets, the investment banking and ILS focused division of global reinsurer Swiss Re.

Gupta joined Swiss Re in 2021 and has worked as an ILS structurer within the Swiss Re Capital Markets team, taking on increasingly senior roles at the firm.Prior to that, Gupta worked at consultancies Accenture and Simon-Kucher, before which he had also interned at specialist ILS investment manager Nephila Capital for a time.We understand both hires are set to be based in New York and will report directly to Akhil Garg, Managing Director in the Structured Finance business at Goldman Sachs.

Goldman Sachs sees the strengthening of its dedicated insurance-linked securities (ILS) specialism as complementary to its leading financial institutions group activities, we understand.The investment bank is showing it remains committed to the cat bond and ILS sector with these hires, which is an area of the capital markets Goldman Sachs clearly values being active in..All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.

Our can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.