Key participants in the alternative reinsurance, convergence and insurance-linked securities marketplace come together this week for networking and education sessions at Convergence 2022

ILS Bermuda organisers believe clients have a unique opportunity to access the ILS industry's top leaders, learn more about the tremendous potential of ILS and to unlock the value of this growing asset class.

The receding pandemic has spurred registrations for this event, both from those on and off the island.

ILS Bermuda celebrates its 10th year and there is an opportunity this week to meet leaders from the alternative reinsurance, convergence and insurance-linked securities marketplace.

The event this week will promote the sharing of industry insight and connectivity among investors and other participants in the undisputed heavyweight of ILS jurisdictions.

One high-powered panel will discuss the future for reinsurance, as traditional catastrophe writers consider retreating from property cat.

It is raising questions of how the balance of power may shift between reinsurers and capital market participants such as ILS funds. What will the playing field look like in the next five to ten years?

On the panel are Albert Benchimol, President & CEO, Axis Capital; Kathleen Reardon, CEO, Hiscox Re & ILS; Peter Bell, CEO, Everest Re; and Mike Millette, Managing Partner, Hudson Structured Capital Management. The discussion is moderated by Andre Perez, Chairman, Las Olas Holdings.

Convergence begins with a reception tomorrow night, before panel discussions on Thursday and Friday with other hot topics, as well.

Networking will include events related to the International World Rugby Classic, which should be a draw for London market participants.

Dr Mark Guishard, Director, Bermuda Weather Service will be a member of another highly anticipated session as scientific experts share expertise on weather events and modelling for current climate conditions. Worst-case scenarios versus realistic scenarios will also be explored.

Another discussion will review the causes of recent losses and debate the significance of climate change as a contributor versus the range of additional variables that include human factors, local infrastructure and resources, the legal environment, as well as price inflation. It also will explore how models can be used to account for these variables.

Parametric risk has been a component of ILS portfolios for decades, and interest is growing across the value chain. A panel will delve into four perspectives – the buyer, seller, intermediary and public sector – to discuss where the opportunities and challenges in parametric protection can be found.

Reinsurers will consider minimising inefficiencies in a conversation on different ways for investors to access risk, including some approaches and the perceived pros and cons of each in a session entitled: Reduce, Reuse, Recycle.