As the insurance-linked securities (ILS) market continues to expand, the diversification of risk portfolios has never been more crucial, and according to François Divet, Head of ILS at AXA Investment Managers (AXA IM), the expanding range of perils within the ILS space could help.
In an article, Divet highlighted how 2024 was a remarkable year for the ILS sector, as the market witnessed record growth, with issuance up 10.5% year-on-year, reaching $17.2 billion.
Now nearing $50 billion in outstanding assets, the market has come a long way from its origins, which were largely focused on traditional natural catastrophes such as hurricanes, earthquakes, and floods.
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