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Estera played a key role in Bermuda’s thriving Insurance Linked Securities (ILS) market in 2017, and predicts another good year in 2018.

Estera played a key role in Bermuda’s thriving Insurance Linked Securities (ILS) market in 2017, and predicts another good year in 2018.

In 2017, Estera charted new waters for Bermuda’s ILS industry, assisting an ILS client to successfully navigate the commercial complexities of aggregate loss events that reached above the attachment point, without having to resort to the courts. The way this was handled proved that Bermuda’s ILS industry is well equipped to deal with such challenges should they arise, giving both issuers and investors additional confidence in the Bermuda marketplace.

Recent market data from the Bermuda Stock Exchange shows that 2017 was another growth year for Bermuda’s ILS market, with 103 new ILS products coming to market during the year with total nominal value of US$11.54B.

Estera acted in various roles for 60% of those new 2017 ILS products, representing total nominal market value of US$5.8B, making it a leader in its field. Services provided included directorships, corporate administration services, listing sponsorship, registrar services, trust administration, and incorporations.

In addition, Estera provided solvent liquidation services for several Bermuda ILS vehicles that wound up at the end of their commercial lives in 2017.

Analysis of over 10 years of data from Estera’s own book of ILS business supports the conclusion that the growth trend will continue in Bermuda. In December 2017, the total market capitalization of Estera’s ILS clients was US$12.9B (2016: $10.8B), representing a year on year increase of 20%.

 

Estera’s Sarah Demerling and Gordon Cox will be attending the Artemis ILS NYC 2018 event for the second time this year, taking place at Convene on Friday 2 February 2018.

To meet with Estera at this event or to find out more about our ILS services, please contact a member of our Bermuda team.

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