ILS

The risk-modelling expert has served at RMS for almost 19 years after joining as a graduate trainee.

RenaissanceRe won the Manager of the Year title, while Beazley’s cyber cat bond won the non-life transaction of the year.

The executive leads a fronting reinsurer which has been a major enabler of ILS market growth.

Markel’s ILS platform maintained assets under management at $7.2bn, down by $200mn from a January figure of $7.4bn.

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.

At Trading Risk’s annual ILS conference, Lloyd’s CFO Burkhard Keese explained how the Corporation is working with the market to attract investors to participate in risk transfer across the Lloyd’s market.

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.

The business will have insurance management and reinsurance transformer subsidiaries.

The firm noted that investor pushback at the January renewal had resulted in "the cleanest risk" being transferred to the capital markets.

UBS previously explored setting up an ILS offering, but instead opted to offer other firms’ products.

Spectra has in-principle approval for a Bermuda broker license but believes cyber ILS solutions will be a game of “slow progress”.