Watch Philipp Kusche moderate a panel on cat bonds at Artemis ILS NYC 2026
At Artemis ILS NYC 2026, the tenth conference in the series, Howden Capital Markets & Advisory helped to bring together leading voices to examine the evolving dynamics of the catastrophe bond market.
The panel, “Cat bonds: maintaining an equilibrium in value, for both sponsors and investors”, was moderated by Philipp Kusche, Chairman HCMA Europe and Global Co-Head of ILS. His perspective anchored the discussion in a central question for today’s market: how to sustain long-term value as demand accelerates.
Joined by senior representatives from Schroders Capital, the World Bank, Euler ILS Partners and SageSure, the panel explored a market that continues to expand in both scale and participation as interest in ILS is broadening from traditional institutional investors to quantitative strategies and wealth platforms.
The conversation highlighted a market finding its balance. Strong demand is supporting growth, but also raising important questions around capacity, pricing discipline and liquidity. Panellists pointed to continued innovation, as key to ensuring the asset class remains fit for purpose as it evolves.
Looking ahead, expectations for annual growth remain in the +5–10% range, with some seeing the potential for the catastrophe bond market to approach $100 billion in outstanding issuance in the future. Delivering that growth sustainably will depend on maintaining equilibrium between investor returns and sponsor value.