In recent years, the insurance-linked securities (ILS) market has expanded from a niche property catastrophe tool into a broader and more complex asset class, and with that evolution, valuation has also moved from a reporting exercise into a core determinant of market credibility, according to Andy Smyth of Nascent Group.
Smyth, the former EY executive, joined the Bermuda headquartered insurance management, ILS servicing and reinsurance transformer specialist in October 2025 as a Senior Consulting Actuary following Nascent’s strategic investment in his firm, Sephira Risk Solutions Ltd.
“The ILS market has evolved from a niche property catastrophe tool into a broader, more complex asset class spanning collateralised reinsurance, sidecars and casualty-linked structures. With that evolution, valuation has moved from a reporting exercise to a core determinant of market credibility,” Smyth explains in a recent report.
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