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For our newest Artemis Live interview we were joined by Tom Johansmeyer, Head of PCS, to discuss the insurance-linked securities (ILS) markets appetite to invest in strike, riot & & civil commotion (SRCC) or political violence associated reinsurance risks.The discussion happened because of a current piece of work undertaken by Tom and his team, in which they polled the insurance-linked securities (ILS) market for its view on political violence as a class of organization, consisting of strike, riot and civil commotion (or SRCC) risks.
Tom and his team at PCS surveyed some 60% of the ILS fund market, by properties under management, equating to around 15 companies, to discover what ILS supervisors themselves consider SRCC or political violence threats and what it may take to make it a class of business they want to finance, along with what if anything might stop them from doing so.
While ILS fund mandates can be very authoritative therefore include these sort of risks in many cases, they arent always the primary blocker.
Instead it appears price and structure are the primary problems obstructing ILS funds from accepting these type of dangers within their portfolios, as there just arent the deals pertaining to market, at prices that would be attractive, or structured in a way that complements on ILS financial investment technique it appears.
Johansmeyer believes theres a need for more capacity, to make it possible for the insurance and reinsurance market for SRCC and other kinds of political violence to function better, with a role for ILS funds in offering some of that, most likely on a retrocessional basis to start.
The full video interview is ingrained listed below and can also be viewed in complete, together with previous Artemis Live video interviews, over on our YouTube channel.
You can also eavesdrop audio to our interviews by subscribing to the Artemis Live podcast here.