146: Keynote speech by Jorge Familiar, World Bank Treasurer - Artemis London 2023

This was the fifth session of the day at our Artemis London 2023 insurance-linked securities (ILS) market conference, held on September 5th in London, UK. Around 240 attendees enjoyed a busy day of thoughtful catastrophe bond and insurance-linked securities (ILS) focused discussion from industry experts, as well as valuable networking opportunities. This session features a keynote speech and Q&A with Jorge Familiar, Vice President and Treasurer, of the World Bank Group. Familiar discussed the World Bank's role in disaster risk financing and use of insurance-linked securities (ILS) such as catastrophe bonds. He explained that the World Bank's clients have benefited from significant risk transfer thanks to the cat bond structure over the years, saying that interest in insurance protection and leveraging capital market investor appetite to fund that, remains strong. Familiar also discussed the role of ILS and cat bonds at the World Bank. "We are focusing on increasing our financial capabilities and taking full-advantage of what we do in financial markets to further our mission," he explained. Adding, "This leads to insurance-linked securities (ILS)." Familiar further said that the World Bank is aware that countries need help to build resilience on the one hand, but also to build robust safety nets with different layers that will allow them to deal with natural disasters with different intensities and different probabilities of occurrence. "Hence, there is clearly a space for cat bonds here," Jorge Familiar told the audience. Listen to the full podcast episode to learn more about the World Bank Group's activities in the catastrophe bond and insurance-linked securities (ILS) market.

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