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ARTICLE · 20 SEPTEMBER 2018

Keeping Pace With A Rapid Evolution

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Bermuda is a global leader in the ILS space—but as the pace of change quickens and buyers become more sophisticated and demanding, the domicile cannot rest on its laurels ...

BermudaFinance and Banking
Brad Adderley
Brad Adderley
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Bermuda Finance 2018, Roundtable ILS 

Bermuda is a global leader in the ILS space—but as the pace of change quickens and buyers become more sophisticated and demanding, the domicile cannot rest on its laurels, a group of ILS specialists agreed at a roundtable. Partner Brad Adderley participated in the roundtable, along with other industry experts. 

How would you characterise the health of the ILS sector on Bermuda?

Craig Redcliffe: We’ve seen a big uptake in insurance-linked securities (ILS) over the past number of years. If we think back just five to 10 years ago, especially in the property cat market where traditional reinsurers dominated, you’re seeing a lot of convergence capital offering reinstatement provisions and other structures within the reinsurance vehicle, such that the product is quite similar in nature to what a traditional reinsurer offers.

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