On February 9, 2024, over 400 attendees, including representatives of Pomerania Brokers, gathered in New York City to attend the ILS NYC 2024 conference. Throughout the day-long event, attendees participated in expert-led discussions on the future of catastrophe bonds and insurance-linked securities (ILS).
Discussions at ILS NYC 2024 revolved around the volatility of re/insurers’ results and the necessity for capital and risk transfer to effectively manage risk portfolios, with a particular focus on further developing the catastrophe bond market.
Speakers highlighted the resurgence of investor interest in ILS following strong returns in 2023 and market improvements. Institutional investors, cautiously optimistic about 2024, confirmed this sentiment. There was also discussion of the need for new, innovative products to fill coverage gaps, particularly in relation to frequency loss events and the necessity for reinsurers to have capital and risk transfer to manage this.
Despite the challenges posed by climate change and the increasing frequency of catastrophic events worldwide, recent market dynamics, such as the issuance of bonds covering floods in Germany or cyber risks, indicate positive expansion opportunities for the catastrophe bond market. The consensus was that while challenges exist, innovation and collaboration can pave the way for driving growth in the catastrophe bond market to mitigate evolving threats.
All photographs by: Artemis
