The London insurance and reinsurance market has to fight its corner if it is to remain the leading center for risk and that includes fighting to attract ILS business to its shores, according to the UK’s Crown Representative for Insurance Michael Wade. Speaking about the need for the London insurance and reinsurance market to remain competitive in the face of growing disruption and competition, Wade repeatedly highlighted the London Market Group’s ILS initiative as a key example of how London is seeking to boost its competitiveness. “We have to be alert to that,” Wade continued, “We have to know that reinsurance and capital markets are mobile. Wade insisted that this issue, of ILS business being underwritten and domiciled abroad, needs to be rectified. “London needs to be a part of this,” Wade explained, referring to the potential growth of ILS to $165 billion over the next few years.