ILS growth: could this year beat record-breaking 2021?


ILS growth: could this year beat record-breaking 2021?

Judy Klugman, head of ILS sales, Swiss Re

Last year was the fourth costliest year for nat cat losses, yet the ILS market enticed 12 new sponsors and saw investors pivot from collateralised reinsurance to catastrophe bonds, says Judy Klugman of Swiss Re.

The insurance-linked securities (ILS) market is growing fast and ILS veteran Judy Klugman, head of ILS sales at Swiss Re, said the combination of driving forces behind this growth gets to the crux of why the market exists.

In 2021, the ILS market grew with record-breaking new issuance of more than $12.8 billion, 13 percent up on 2020 figures (also a record-breaking year). The arrival of 12 new sponsors, yet another record, certainly helped to propel this growth, Klugman told

“Not only were there 12 new sponsors, but they were a mix who came into our market. It’s not just reinsurers, it’s a combination of primary, reinsurers and governments. The government of Jamaica came to the market through the World Bank for transactions,” she said.

Swiss Re, Catastrophe Bonds, Insurance-Linked Securities (ILS), Insurance, Reinsurance, Judy Klugman, Global

Intelligent Insurer