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Expansion of the insurance-linked securities (ILS) and catastrophe bond market beyond the traditional property catastrophe exposures holds both “promise & peril” for market participants, according to brokerage Willis Towers Watson.
The Willis Towers Watson Securities division of the broker, that structures and arranges cat bond and ILS transactions, discussed the potential for ILS market expansion more deeply into both insurance and reinsurance risks in its latest quarterly report.
The firm notes that “The ILS market is roaring forward through the first half of 2018” and as its asset base increases along with transaction volumes, the need for ongoing expansion of the ILS asset class is clear.