Artemis returned to New York City on February 10th, 2023, for its seventh ILS NYC conference. The event drew over 380 attendees for discussions on the future of the insurance-linked securities (ILS) market. Read our initial review of ILS NYC 2023 and view some photos of the event here.
The conference focused on (Re)construction and Renewal(s), a theme reflecting the industry’s challenges. Hurricane Ian’s aftermath and a tough renewal season for reinsurance set the backdrop, prompting discussions on how the ILS market can adapt and grow.
Rebuilding After Major Losses
The ILS market faces a critical juncture. Recent major loss events, like Hurricane Ian, have prompted a reevaluation of pricing baselines and risk selection techniques. Industry thought-leaders emphasized the need to integrate lessons from these events into future strategies, ensuring the market’s resilience and sustainability.
ILS investment managers are working to construct resilient portfolios, balancing coverage terms and risk selection. The goal is to offer sustainable growth for investors and reliable protection for cedents. This involves not only refining existing models but also exploring new risks, perils, and ILS products to broaden the market’s appeal.
For those directly involved in the ILS market, the conference offered a chance to reflect on the industry’s evolution. It provided a platform to discuss how the market can adapt to new risks and opportunities, ensuring its long-term viability. Read about our ILS NYC 2022 event, view videos of each session, and see photos here. For more insights, read about other Artemis ILS conferences.
Sessions explored the market’s recovery, the evolution of ILS business models, and the introduction of new products. Experts debated how to broaden the ILS market’s appeal and attract new capital, with a focus on the role of capital markets in reinsurance and the ILS investment opportunity.
Expert-Led Discussions
The conference featured panels led by industry leaders. John Seo of Fermat Capital Management discussed catastrophe bond expectations, while Mark Gibson from Schroders Capital addressed collateralized ILS markets. These sessions looked into the complexities of resetting market expectations and rebuilding confidence in private ILS markets.
Other sessions tackled Florida’s market challenges and future opportunities. Speakers included Judith Klugman of Swiss Re Capital Markets and Tom Johansmeyer from Verisk Insurance Solutions. Their discussions highlighted the unique hurdles in Florida and potential solutions for a sustainable market.
The event concluded with a panel of moderators from each session, followed by a networking cocktail reception. Attendees included senior executives from reinsurance companies, ILS fund managers, and institutional investors. Videos of the sessions are now available online.
Related Post: Weather Risk Management Innovations Expand Global Market Options
Held at the Convene event space, the conference required photo ID for entry. Please note: This is the same, larger venue as used in 2020 and prior, not the venue used in 2022.
Session Highlights and Expert Insights
The conference featured a session on (Re)setting expectations in catastrophe bonds, led by John Seo of Fermat Capital Management. Panelists included Mariagiovanna Guatteri from Swiss Re Insurance-Linked Investment Advisors and Philipp Kusche of Howden Tiger. They discussed the changing market of catastrophe bonds and investor expectations, with insights from Lorenzo Volpi of Leadenhall Capital Partners and Chris McKeown from Vantage Risk.
Speakers like Kathleen Faries from Artex Capital Solutions and Eveline Takken-Somers of PGGM explored strategies to restore trust in these markets, joined by Chin Liu from Amundi US.
The session on (Re)constructing a healthy market in Florida, led by Judith Klugman of Swiss Re Capital Markets, addressed the unique challenges in the state. Panelists, including Jennifer Montero from Citizens Property Insurance Corporation, Michael Stahel of LGT ILS Partners, and Adam Schwebach from Gallagher Re, discussed solutions for a sustainable market.
In the final session, (Re)newed opportunities, Tom Johansmeyer of Verisk Insurance Solutions led a discussion on future growth areas. Speakers like Julia Henderson from Vesttoo, Chris Caponigro of AXIS Capital, and Michael Millette from Hudson Structured Capital Management shared insights on emerging trends.
Networking and Event Logistics
The conference concluded with Panel Session 5, featuring the four moderators—John Seo, Mark Gibson, Judith Klugman, and Tom Johansmeyer—in a final Q&A discussion to wrap up the day. This session provided a full overview of the day’s key takeaways.
Attendees then moved to the cocktail reception, where they networked with speakers and peers.
Held at the Convene event space, the venue provided a modern setting for discussions and networking. Sponsors showcased their services in a dedicated expo area, and quiet spaces were available for meetings. Coffee and refreshments were provided throughout the day, ensuring a conducive environment for interaction and learning.
