Reinsurance, also referenced as insurance-linked securities (ILS), is an asset class that can provide attractive returns while expressing an intuitively low correlation to traditional asset classes. Unfortunately, many investors are scared away by terms like “catastrophe bonds” and news about climate change. However, the risks are often misunderstood. This discussion will provide an introduction to reinsurance, catastrophe bonds, and discuss how to access, evaluate and implement the asset class in a portfolio.