ILS practitioners from Guernsey spoke at a Guernsey Finance
London event about prospects for the sector and the island's
role in the market. In the first of two articles, we cover some of
the issues raised.
How do you see the state of the market today?
Justin Wallen, Head of ILS, Artex Guernsey: The
market recently has been difficult for ILS clients compared to 2016
and prior. Losses and collateral trapping from events in 2017, 2018
and, more recently, the 2019 typhoons in Japan, is making the
deployment of collateral for new transactions more difficult. Also
there is some disparity between types of contracts and losses
suffered, in, for example, excess of loss reinsurance versus
aggregate contracts versus quota share.
