ILS Capital Management is looking at converting its collateralised reinsurance company to a rated balance sheet, the firm’s managing partner Tom Libassi said at the Trading Risk New York conference.
LGT ILS Partners is now transacting 70 percent of its reinsurance book on a rated basis through its A rated Lumen Re platform, partner and portfolio manager Michael Stahel has confirmed.
The discussions are very much at the early stage with any developments likely to be in “phase two or three”, according to Lloyd’s regional director for the APAC region.
Avoiding a “bucketing” approach to risk-taking will help the ILS industry fill in the insurance protection gaps, according to Fermat managing director John Seo.