Michael Bennett, Head of Derivatives & Structured Finance at the World Bank Treasury kindly joined us for an interview as part of our virtual ILS NYC 2021 conference. He shared his thoughts on the World Bank's work in disaster risk financing and the use of insurance-linked securities (ILS) structures, such as catastrophe bonds, alongside traditional reinsurance, to help its member countries enhance their resilience. We discussed his views on where the World Bank's use of insurance-linked securities (ILS) may evolve towards in the future. This included how the catastrophe bond fits into disaster and other forms of risk financing, what has gone well and what the insurance-linked securities (ILS) market could perhaps do differently to support the expansion of this work. Michael also explained what he believes needs to happen for uptake of sovereign ILS and catastrophe bonds to increase, as well as where more issuance could come from.

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