Alongside the change in capital structures, risk transfer mechanisms and the composition of profits that the industry has endured in recent years, another profound adjustment has been underway: the risk transfer industry has started becoming more attractive to younger people. This is partly because of the failings and retraction of the banking sector in recent years, narrowing the options available to young, ambitious talent. But it has also been driven by both the convergence of the traditional risk transfer sector with more dynamic areas of the capital markets and the industry simply doing a better job of selling itself to young people.