The ILS market is seeing a boom in activity in 2017. Bill Dubinsky, managing director & head of ILS at Willis Towers Watson, casts an eye over the year so far.
ILS issuance in the second quarter of 2017 has to date surpassed the quarterly total from the same period of 2016, according to Paul Schultz, CEO of Aon Securities.
There has been steady growth in the Bermuda ILS market, according to the latest report from the Bermuda Monetary Authority.
As the soft market stretches on and new capital continues to find ways to compete on the turf of established reinsurers, the bigger, traditional players are being forced to adapt. Most are increasingly willing to shun unprofitable business while exploring new potential revenues streams and keeping one eye on (and often an investment in) technologies with the potential to change their way of working.
Amid a myriad of challenges, re/insurers must stay ahead of their peers and embrace innovation and technology if they are to thrive in the game, Ingrid Carlou, the chief executive of Patria Re, tells Intelligent Insurer.
As the re/insurance industry changes and evolves, it is becoming more attractive to young people—and they look increasingly essential to its future. As part of a wider feature available online, Intelligent Insurer speaks to young executives—all 35 and under—who are making waves in the industry.
Cyber insurance is one of the fastest growing business segments, but poses a unique set of challenges, as proved by the recent global ‘WannaCry’ cyber attack which hit more than 150 countries and affected computers in factories and hospitals. Intelligent Insurer explores four threats making insurers rethink their coverages and general approach to cyber.
Major ransomware worm attacks such as the recent one dubbed ‘WannaCry’ which hit 150 countries are expected to become more frequent and expose the cyber protection gap in the global economy, according to experts.
The soft market, M&A and pressure on reserves are bolstering the interest in run-off globally, says Veekash Badal of Milliman.
There have been several interesting transactions in the past six months as a number of serial consolidators have looked to take advantage of a growing desire on the part of insurers to move certain blocks of business off their books