ILS market structurally healthy, but faces crucial test in cycle management: Steiger, Icosa

Following several years of strong returns and renewed inflows, the insurance-linked securities (ILS) market currently sits in a structurally healthy position, however this recent momentum must be balanced with disciplined cycle management, Florian Steiger, CEO and Founder of Icosa Investments told Artemis in an interview.

Speaking to Artemis just before the 2026 Monte Carlo Rendez-Vous de Septembre (RVS) reinsurance industry event, Steiger reflected on the current state of the ILS market, and also shared what Icosa’s views are regarding the rise of AI across the ILS space.

Steiger described the current state of the ILS market as “structurally healthy” and increasingly mature, whilst noting that the space continues to normalise following a number of exceptionally attractive years.

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