Trading Risk New York: Regaining Momentum




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2019 has been a year of reckoning for the reinsurance market as it faces up to loss activity over the past two years. Events such as Irma and Jebi are helping to now drive real changes in momentum in the market.


As the dust clears from the Florida renewals stand-off, a key question for all involved in the (re)insurance market is how the ILS sector will respond to mid-year rate improvements. Will investors be drawn in by improving yields to help boost capacity, or will continued tension support market discipline into the 2020 renewals? Is M&A boosting the ILS market’s growth prospects or is more consolidation ahead?


The Trading Risk New York conference will gather cedants, ILS managers, investors and advisors at a key time in the conference season run-up to January. Join us to hear from leading market participants debating key themes of the day, including:


  • Capital stasis: expectations for the ILS investor response to rebalancing in 2019
  • Future innovation on collateral models - unlocking value in trapped capital
  • M&A reshaping - how the latest deals and new entrants will shake out the market
  • Retro recovery - the market's future role post-Jebi and Irma


Business leaders, experts, and innovators

(further speakers to be announced soon)

Ben Adolph

Head of Non-Life Portfolio Management
Leadenhall Capital Partners LLP

Michael Bennett

Head, Derivatives & Structured Finance, Capital Markets, Treasury
The World Bank

Kapil Bhatia

Managing Director
Raymond James & Associates

Phil Bowie

Chief Executive Officer
Velocity Risk Underwriters, LLC

Daniel Brookman

Head of Alternative Capital

Julia Henderson

Chief Underwriting Officer
Lutece Investment Management

Liz Henderson

Senior Managing Director, Catastrophe Risk Analytics

Aaron C. Koch

Director, ILS Group (P&C Division)

Tom Libassi

Co-Founder, Managing Partner
ILS Capital Management

Jarad Madea

Co-Chief Executive Officer
TigerRisk Capital Markets & Advisory

Jonathan Malawer

Head of ILS, Commodities & Environmental Strategies
K2 Advisors

Rick Pagnani

Executive Vice President & Head of ILS Business

Paresh Patel

Chief Executive Officer
HCI Group

Jeff Sangster

Partner, Chief Financial Officer & Head of Strategy
Hudson Structured Capital Management

Dr John Seo

Co-Founder & Managing Director
Fermat Capital Management, LLC

Chris Silvester

Executive Vice President & Head of U.S. Property Underwriting

Validus Re

Todor Todorov

Senior Investment Consultant, Head of Insurance-Linked Securities Research
Willis Towers Watson

David Unsworth

Senior Broker
TigerRisk Partners


08:15 - 08:55 | Registration & breakfast


08:55 - 09:00 | Chair's welcome

  • Fiona Robertson, Managing Editor, Trading Risk


09:00 - 09:05 | Introduction

  • Mike Ramsey, Wilmington Trust


09:05 - 09:25 | Keynote

  • Liz Henderson, Senior Managing Director, Catastrophe Risk Analytics, Aon


09:25 - 09:45 | Keynote

  • Rick Pagnani, Executive Vice President, Head of PIMCO ILS Business, Portfolio Management


09:45 - 10:05 | Keynote

  • Dr John Seo, Co-Founder and Managing Principal, Fermat Capital Management, LLC


10:05 - 10:25 | Group Q&A


10:25 - 11:00 | Coffee & networking


11:00 - 11:45 | Panel discussion: State of the market

  • Emmanuel Kenning, Senior Reporter, Trading Risk (Moderator)

  • Ben Adolph, Head of Non-Life Portfolio Management, Leadenhall Capital Partners LLP

  • Julia Henderson, Chief Underwriting Officer, Lutece Investment Management

  • Jonathan Malawer, Head of ILS, Commodities & Environmental Strategies, K2 Advisors

  • Todor Todorov, Senior Investment Consultant, Head of Insurance-Linked Securities Research, Willis Towers Watson


  • Will 2019 rebalancing revive ILS inflows?

  • Refining the ILS model - future collateral innovations and standardisation initiatives

  • Market reshaping - how the market might evolve after two years of losses and M&A

  • Retro recovery - the market's future role post-Jebi and Irma


11:45 - 12:30 | Panel discussion: Florida market: cutting through the Sunshine State glare

  • Sofia Geraghty, Reporter, Trading Risk (Moderator)

  • Kapil Bhatia, Managing Director, Raymond James & Associates

  • Paresh Patel, Chief Executive Officer, HCI Group

  • Chris Silvester, Executive Vice President & Head of U.S. Property Underwriting, Validus Re

  • David Unsworth, Senior Broker, TigerRisk Partners


  • Have 2019 renewals done enough to correct the market?

  • Will legislative reform be a lasting benefit?

12:30 - 13:30 | Lunch


13:30 - 14:00 | Keynote

  • Michael Bennett, Head, Derivatives & Structured Finance, Capital Markets, Treasury, The World Bank


14:00 - 14:30 | Keynote

  • Phil Bowie, Chief Executive Officer, Velocity Risk Underwriters, LLC


14:30 - 15:15 | Panel discussion: ILS v. 3.0 - the industry's evolving structure

  • Fiona Robertson, Managing Editor, Trading Risk (Moderator)

  • Daniel Brookman, Head of Alternative Capital, AXA XL

  • Aaron C. Koch, Director, ILS Group (P&C Division), Milliman

  • Jarad Madea, Co-Chief Executive Officer, TigerRisk Capital Markets & Advisory

  • Jeff Sangster, Partner, Chief Financial Officer & Head of Strategy, Hudson Structured Capital Management


  • Recent M&A has drastically changed the profile of the ILS manager community. More ILS managers have tied up to (re)insurers, but a rush to set up in-house rated platforms remains underway - we weigh up what the platform model of the future looks like

  • Two years of losses have tested collateral management process, what further evolution is ahead?


15:15 - 15:45 | Fireside chat

  • Fiona Robertson, Managing Editor, Trading Risk

  • Tom Libassi, Managing Partners, ILS Capital Management


15:45 - 15:50 | Chair's closing remarks

  • Fiona Robertson, Managing Editor, Trading Risk


15:50 | Networking reception


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75 Rockefeller Plaza
New York, NY 10019


Phone: 888.730.7307


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