In the insurance media we talk about classes of new carriers being formed in mass flowerings of capitalism after the bursting of prolonged soft markets, but we never apply this term to the birth of intermediaries.
This is because the distribution side of our industry tends to renew itself more organically and less in dramatic waves.
Except that right now the conditions are perfect for a mass expansion in this space.
The consolidation of Marsh & McLennan and JLT and the prospect of Aon and Willis coming together are providing a once in a lifetime strategic backdrop for independents that can attract the right talent.
A sustained hard market has taken hold in core lines of business, giving a second boost and market reforms in hubs such as London are giving a chance for operational efficiencies and competitive advantages to be built into new businesses from day one.
Add to this record low borrowing costs, high valuations and a growing view from the investor community that broking houses have more in common with annuities than venture capital investments and you have a heady cocktail.
Into this mix I welcome Mike Reynolds the new CEO of Oneglobal Broking, a London wholesaler born of the merger between SSL and Endeavour and fueled by an investment from JC Flowers.
Mike has had a very long career in the insurance business and most recently ran reinsurance broker JLT Re.
In this interview we learn about Oneglobal’s major worldwide plans and Mike’s vision of how to build a global challenger in the wholesale specialty and reinsurance space.
Mike is good company so I think you will enjoy spending the next half hour or so with him.
NOTE:
Mike mentions a Jonathan. He is of course referring to Jonathan Palmer-Brown, the Chairman of Oneglobal Broking
LINK:
We thank our supporter, Claims Direct Access (CDA) for their support today. Here is a link to their website:
https://www.claimsdirectaccess.com/
Ep208 Gilbert Harrap CEO InsurX: Building a new Insurance Utility
Special Ep David Butler of VIPR: Don't install tech - solve real-world problems
Ep207 Scott Egan SiriusPoint: Chasing the 1%
Ep206 Duncan Dale CEO Dale Underwriting Partners: Excited by the Opportunities
Ep205 Serene Davis & James Orchard of QBE: Stars aligning for Innovation
Ep204 What do Teenagers Think about Insurance?
Ep203 Greg Hendrick Vantage Risk: Best Talent, Best Insights, Best Decisions
Ep202 Kate Markham Hiscox: Do More, Do it Better, Do it Cheaper
Special Ep Guillaume Bonnissent of Quotech: Solving pain points you didn't know you had
Ep201 Natalia Dorfman & James Kench of Kita: Gross Written Carbon
Ep200 Renaud Guidée CEO AXA XL Re: Much more than just a transaction
Ep199 Kera McDonald Swiss Re Corporate Solutions: Trendspotting and Avoiding Passivity
Special Ep Mike Steel Moody's RMS: Answering a whole new set of questions
Ep198 Tom Clementi Pool Re: Taking risk off the State
Ep197 Robert Wiest CEO MS Re: A good plan and the capital to execute it
Special Ep: Ian Summers AdvantageGo and Jeff Cohen Zywave: Let the client choose what they want
Ep196 Melissa Collett CEO Insurtech UK: A sector in its own right
Ep195 Adrian Cox: Beating Inertia
Ep194 1.1.2024 Renewals: It Feels Like The Time is Now
Special Ep: Navigating the DDM switch-off with Paul Templar CEO of VIPR
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Gorse Culture PODcast : The H.R. Detective Agency!
HCI Leadership Revolution
The Ramsey Show
Planet Money