Regulations to develop Insurance Linked Securities (ILS) market should result in new (re)insurance products

23 November 2016

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Ben Reid, Executive Director in EY’s Specialty insurance practice, comments on the Chancellor’s announcement on Insurance Linked Securities (ILS):

“The insurance industry will welcome the Chancellor’s confirmation to publish regulations to develop the ILS market in the UK, which is expected to allow (re)insurers and brokers operating in the London insurance market to develop and issue new products, supported by alternative capital. It will be an important growth opportunity for the industry. To be successful, this new market must be complementary to other global ILS centres, and to meet the new requirements of global insurance buyers, London’s world renowned reputation for product innovation should be harnessed.”