OLDWICK, N.J.–(BUSINESS WIRE)–In this episode of A.M.BestTV from the 2018 Bermuda ILS
Convergence Conference, attendees said insurance-linked securities (ILS)
and other forms of non-traditional capital are expanding into new areas
of coverage, evolving beyond risks of traditional property/catastrophe
reinsurers and becoming useful to casualty reinsurers and insurers, as
well as brokers and to distribution. Click on http://www.ambest.com/v.asp?v=convergence11018
to view the entire program.
The hot topic for industry executives at this year’s convention is how
the market is evolving.
“There are two parallel tracks that could happen,” said Tom Johansmeyer,
assistant vice president, PCS strategy and development, Verisk. “The
first is it is going to evolve as it always has. There is a tendency to
stick with what you know, and try to trim fractions of a basis point out
of every transaction. On the other hand, we are seeing more regional
risks brought into the space and positive developments in
non-catastrophe areas. … Cyber is going to be a big one. If we can get
the ILS market comfortable with cyber risk, as well as get the market,
as a whole, comfortable with something other than collateralized quota
shares, then cyber could be a massive positive force for the ILS space.”
Andre Perez, chief executive officer, Horseshoe Group, said, “The ILS
market is in constant evolution. We are definitely seeing
diversification. Although the predominance is still North America, you
now have ILS risk being done in Europe, Asia, Australia and New Zealand.
It is that expansion that is making the ILS risk space larger.”
For full video coverage of the 2018 Bermuda ILS Convergence conference,
including exclusive executive interviews, please visit http://www.ambest.tv/convergence18.
Other people that appear in this episode:
- Kathleen Faries, chief executive officer, head of Bermuda branch,
Tokio Millennium Re;
- Paul Scope, chairman, Willis Towers Watson Bermuda;
- Thomas Deinet, executive director, Standards Board for Alternative
- Aditya Dutt, president, Renaissance Underwriting Managers;
- Brent Poliquin, assistant vice president, insurance-linked securities,
- Matt Coleman, director of strategic partnership, Nephila Climate.
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