Brad will be speaking during the Bermuda Shorts ‘Changing Landscapes: Tax & Regulation’ portion of the networking event. Brad commented, “SPIs were originally meant for one-off transactions, but over the years they have morphed into commercial reinsurers writing multiple contracts, with multiple cedents, in multiple forms. These collateralised structures have transitioned from SPIs to Class 3As despite having higher running costs, higher regulation, and more corporate governance. You can call it reverse osmosis, which is that instead of the traditional market going into ILS, we now have ILS going to the traditional market.”

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