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Cyber risks are a logical place for the use of insurance-linked securities (ILS) capital as there is a real need for capacity, according to Brian Duperreault, the CEO of insurance giant AIG.
Duperreault was interviewed on stage at the annual SIFMA IRLS conference in Miami, Florida yesterday.
He discussed the evolution of AIG’s own use of ILS, the development of its strategy after the acquisition of reinsurance group Validus and its specialist ILS fund manager AlphaCat Managers, as well as what that means for his insurer going forwards.
One area of interest in the discussion was Duperreault’s desire to expand the usefulness of AIG to its clients with the help of alternative capital managed by AlphaCat or accessed via other insurance-linked funds and investors.