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RenRe CEO says ILS investor appetite will be tested at the end of this year.


Insurance-linked securities (ILS) investor appetite may still be challenged towards the end of this year, which alongside a lack of confidence that any meaningful reinsurance start-ups could get to market in time for the renewals, leads RenaissanceRe’s CEO Kevin O’Donnell to believe the hard market can persist.

Speaking during his firm’s second-quarter earnings call just now, Kevin O’Donnell highlighted the RenaissanceRe (RenRe) platform as one that may be better positioned to navigate what he sees as a number of challenges for the ILS and traditional reinsurance space.

Answering analysts questions on whether the reinsurance industry should expect new capital flows in advance of the January 2024 renewals to have any softening effect, O’Donnell said he doesn’t currently believe that will be the case.

On the potential for any new reinsurance startups, O’Donnell said, “On company formation, I think it’s pretty late for a company to think that they’re going to be able to come to market and execute in a way that’s going to meaningfully impact the market.”

On insurance-linked securities (ILS) and the potential for significant inflows to move the reinsurance market at year-end, O’Donnell is also not confident that we will…

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