ILS market hits $75bn in 2016, says WCMA

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Non-life insurance-linked securities grew to $75bn (£60bn) in 2016 overcoming a tough operating environment, according to Willis Capital Markets & Advisory.

In the latest ILS Market Update, WCMA said total ILS assets under management in 2016 grew to $75bn, up from $70bn the previous year.

In the fourth quarter of 2016 the ILS market saw a pick-up, with

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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