Funds And Insurance Collide In The Development Of Single ILS Structures

A new single structure for conducting both the fund and insurance element of insurance-linked securities business is being devised in Guernsey, delegates heard at the Guernsey Finance-hosted ILS Insight event in Zurich.

Expert insurance lawyer Mark Helyar, of counsel at event sponsors Bedell Cristin, is leading the way with the development of "true convergence" in the ILS space where, he said, "capital markets and insurance markets meet".

"My job is to put together structures to help them to invest in each other," he said while speaking as part of the event's technical showcase. "The collateralised re market has become so big in recent years. With Cat bonds you've got risk looking for capital, and with collateralised re you have capital looking for risk.