New ILS record threatens traditional model, says Willis

Willis Towers Watson Securities has said the record $6.3bn of
non-life cat bond issuance in the second quarter may spell the
beginning of the end for traditional property cat reinsurance.
"We very well may look back and see Q2 2017 as the death
knell of the traditional property cat reinsurance model," it
said in its latest quarterly market report.
The firm noted that the insurance-linked securities (ILS) sector
still had a long way to go to expand in the middle...