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As alternative capital hits $108bn record-high, Aon forecasts further growth

According to Aon Securities, the insurance-linked securities (ILS) and investment banking arm of Aon’s Reinsurance Solutions, the amount of alternative capital in the reinsurance industry ended 2023 at a new high of $108 billion, a figure the broker expects to grow as interest investor is growing across the range of ILS instruments.

Alternative capital levels in reinsurance grew particularly strongly in 2023, adding $15 billion over the course of the full-year, to take the total deployed in ILS structures from $93 billion at the end of 2022 to $108 billion at the end of last year.

Which means that 2023 saw the biggest growth year in dollar terms for the alternative capital and ILS market since 2011, when it grew by $16 billion over that year, according to Aon’s data on the reinsurance market.


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