ILS

In a discussion at Trading Risk’s London ILS 2023 conference, panellists compared the current cyber ILS market to the cat market in the 1990s.

Hard-market conditions have been beneficial but more improvements are needed, the panel said.

At Trading Risk’s London ILS 2023 conference, the PRA’s head of division for London markets, Andrew Dyer, explained how the PRA is executing its plans to bolster the UK ILS market.

Structures have been developed that would avoid “excessive capital trapping”.

The company will use the funds to expand its global presence, enhance its marketplace platform and widen its offering.

How much capacity is available to meet rising cat reinsurance demands was a key theme throughout this year’s Rendez-Vous.

Gupta moves from Axis Capital where he served for four years in the New York team.

There are still some hurdles preventing widespread ILS adoption of cyber risk, but momentum should increase.

The ratings agency said a high degree of uncertainty around ultimate exposure is likely to be long-lasting and will fuel rate strengthening in affected lines.

The first-of-its-kind deal blends bank financing with ILS funding.

Political violence and aviation coverages had been thrown into marine composites as the market softened.

Courts in Bermuda and the US approved the move, which had earlier been subject to investor litigation.