The insurance-linked securities (ILS) sector can play a greater and more meaningful role in Asia, but to drive success, the market needs to develop solutions for Asia that are less U.S. shaped, according to Chris Kershaw, Managing Director of Global Markets, at reinsurer Peak Re.
The ILS and catastrophe bond space remains heavily focused on U.S. perils, and while deals covering Japanese earthquake or typhoon risks have been a feature of the market since the late 1990s, the asset class has struggled to enter other parts of Asia.
Singapore has ambitions to become a global