ILS gains too ‘modest’ to alter capacity story, despite cat bond glory
ILS capacity growth, while enjoying a bonanza of cat bond issuance for over a year, remains far too “modest” to through any weight into the reinsurance capacity story that might alter the market’s overall trajectory, analysts at AM Best have said in their semi-annual review of the segment.
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22 January 2026 As ILS becomes core reinsurance capital, casualty risk is pushing the market back toward bespoke structures, deeper diligence and longer-term thinking.