This podcast episode features the second panel session of the day at our Artemis London 2024 conference, which was held on September 3rd.

It was our third in-person conference in London focused on catastrophe bonds, insurance-linked securities (ILS), alternative capital and reinsurance-linked investment trends.

The second panel of the day was titled "The private ILS capital raising conundrum."

Participants discussed the state of the private ILS market, where collateralized reinsurance and retrocession opportunities are underwritten, traded and invested in, as well as the capital raising environment.

Moderating the session was: Luca Albertini, Chief Executive Officer, Leadenhall Capital Partners LLP.

Joining him as panellists were: Raffaele Dell'Amore, Head ILS Centre of Competence, SIGLO Capital Advisors AG; Emily Birrell, Head of Client Relations, Integral ILS; Niklaus Hilti, CIO, Euler ILS Partners (at the time Head, Credit Suisse Insurance Linked Strategies); and Bernard Bachmann, Co-CEO, Swiss Re Insurance-Linked Investment Management Ltd.

While the market had been challenged in raising new capital for private ILS strategies in recent years, conditions had been improving on the fund-raising front at the time of the event. At the same time, underwriting conditions and pricing were as good as they had been for a while. 

Which raised the conundrum, as it was an opportune time to invest in private ILS and reinsurance/retro strategies, but still the recovery of capital flows to private ILS funds had been slower than seen in other areas of the market such as catastrophe bonds.

Listen to the full episode to hear our industry experts discuss the state of the private insurance-linked securities marketplace, as well as developments in the environment for capital raising for these collateralized reinsurance and retrocession strategies.