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FOR IMMEDIATE RELEASE
OLDWICK - OCTOBER 08, 2018 03:07 PM (EDT)
In this episode of A.M.BestTV from the 2018 Bermuda ILS Convergence Conference, attendees said insurance-linked securities (ILS) and other forms of convergence capital, once considered rivals to traditional reinsurers and insurers, have become an important component of many reinsurers’ risk arsenals, driving broader coverage and new products. Click on http://www.ambest.com/v.asp?v=convergence11118 to view the entire program.
John Seo, co-founder and managing principal, Fermat Capital, described how ILS is transforming the insurance landscape.
“In my opinion, the most significant impact that ILS is having is introducing modern practices to the industry, namely securitzation,” said Seo. “Today, securitzation is something every financial service in the world is heavily reliant on except the insurance industry, which is why ILS is bringing it to the industry.”
“ILS is able to bring forward the ways of measuring, describing and categorizing risks,” said Samantha Medlock, senior vice president, Willis Towers Watson. “ILS products and transactions are increasingly getting traction with cities and states using catastrophe bonds to stabilize and understand their risks.”
Will Dove, chairman and chief executive officer, Extraordinary Re, highlighted the fact that over the last 20 years, the ILS industry has grown to become a $100 billion industry.
For full video coverage of the 2018 Bermuda ILS Convergence conference, including exclusive executive interviews, please visit http://www.ambest.tv/convergence18 .
Other people that appear in this episode:
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A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry.