Capital does not stand still. As climate exposure, AI risk, specialty classes, and regulatory pressure evolve, insurers and reinsurers are reallocating capacity. This panel explores where capital is expanding, where it is tightening, and what structural shifts are underway. How do emerging risks influence allocation decisions? What technologies are improving capital visibility? And how are incumbents positioning to attract long-term investment? This conversation focuses on forward-looking capital strategy grounded in current market signals.