23: Paul Schultz, CEO, Aon Securities - ILS Asia 2020 keynote

Paul Schultz, Chief Executive Officer (CEO) of Aon Securities, the capital markets and insurance-linked securities (ILS) focused unit of the insurance and reinsurance broker, joined our ILS Asia 2020 conference to give a keynote speech in July 2020.  Schultz explained that the trend of insured against uninsured losses across the Asia Pacific region is not sustainable, and the insurance-linked securities (ILS) market will need to play an integral role in addressing the issue.  "The protection gap exists globally and there’s a stark reality between what is insured and what is uninsured. And, in Asia Pacific that protection gap is even slightly worse that what it is globally," Schultz said.  Adding that, "ILS and broadly the capital markets are going to have to be an instrumental part of the way we solve this."  During his speech, Schultz also noted the expectation for a broader range of catastrophe bond and ILS sponsors to come to market.  "I would say on the type of sponsor, we think that corporate sponsors, government sponsors, so really getting away from the traditional sponsors of catastrophe bonds, we think that that’s a very reasonable growth expectation, not only in Asia but globally, that more different types of sponsors will come to the market," he explained.  Saying that, "We see corporates and governments as well represented in that."

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