Innovative New Products Will Drive ILS Growth This Year, Predicts Adderley

This year will see a return to growth for the ILS market, with a range of new products helping clients manage new risks more effectively, according to Brad Adderley, partner at Appleby.

The signs of recovery in the ILS market are already evident, noted Adderley.

"The first six months of 2019 were more challenging for ILS but by the end of the year activity had picked up and I think things are back to what they were," he said. "I think the difficulties of 2019 were a blip in the market, and we will now see more ILS, more cat bonds and more sidecars."

Adderley pointed to the AkinovA platform as a sign of where the ILS market is headed.

AkinovA, the Bermuda-based electronic marketplace for trading re/insurance risk which is licensed to operate in Bermuda's regulatory sandbox, completed a parametric cyber risk transfer in December 2019, a trade those involved said was the first of its kind.