BNP Paribas rewarded for new-generation ILS

Depth of demand is transforming insurance-linked securities

BNP Paribas' London office

Awards 2014: BNP Paribas
Best bank, ILS

BNP Paribas capped a record year for insurance-linked securities (ILS), with a number of transactions in which investors took on previously unfamiliar risks, opening new ground for similar deals in future.

The ILS market as a whole has been abuzz with high investor demand, making it possible to launch deal structures that are getting close to replicating traditional reinsurance. The second quarter of 2014 alone saw $4.5 billion (£2.8 billion) of non-life ca