In this short paper, Kevin Manning, Eamonn Phelan and Scott Mitchell explore the re-emergence of ILS in the life industry and the benefits ILS can bring for life insurers and reinsurers in the context of the evolving regulatory and accounting environment and an increasing focus on pro-active management of risks, capital and liquidity. This paper will be of particular interest to (re)insurers that may be unaware of the potential benefits of ILS solutions. Eamonn Phelan and Kevin Manning are principals at Milliman based in the firm’s Dublin office. Scott Mitchell is head of Life ILS at Secquaero, which forms part of the Schroders group, and is based in Zurich.