ILS Capital’s securitisation of trapped reinsurance assets has led to speculation that this may pave the way for further similar deals, offering another solution to the trapped capital problem which has blighted the ILS space since the catastrophe losses of 2017-2018. But in the ILS market, trapped capital must still remain in trust for cedants. So in terms of how a deal can be put in place, you first have to identify an asset that you can securitize, according to Anna Dodson, Debt Finance and Financial Restructuring partner at Goodwin. Read the article in Trading Risk here.