Today we have a live market where reinsurance capacity has dried up and investors are utterly fatigued or are openly on strike, and so every dollar of spare capital feels twice as valuable as it did last year
But at the same time we have a highly sophisticated legacy market that is well capitalised and, because of its relatively solid recent track record, has access to more funding if it needs it.
Also legacy infrastructure is probably better equipped to handle anything the live market can throw at it than at any time in its history.
Surely in today’s market every live dollar than can be freed up to write new business at tomorrow’s better prices, will be freed up?
Now is clearly a great time to be talking to today’s guest.
Luke Tanzer is CEO of RiverStone International, a business at the heart of the Lloyd’s and UK company legacy market.
RiverStone has a new owner, fresh capital and focus and ambitious international expansion plans.
Luke is one of the most engaging members of the legacy community and if you haven’t met him before, I think you’ll find him incredibly insightful and refreshing.
And if you still have any outdated ideas about what run-off is in the 2020s, a few minutes in Luke’s company will set you straight.
Given what is happening in the live market, Luke and his peers’ profiles are very likely to be raised a notch or two in the next couple of years as excess demand seeks out his capital and expertise, so get ahead of everyone else and listen on.
NOTES
A couple of unexplained abbreviations.
RITC is reinsurance to close, a key part of the Lloyd’s three-year accounting process.
DD is of course due diligence.
LINKS
We thank our naming sponsor AdvantageGo:
https://www.advantagego.com/
We also thank this Episode’s advertising supporter Oxbow Partners
https://oxbowpartners.com
Ep 66 Nick Cook BMS: A Bullish time to build
Ep 65 Matthew Moore President Liberty Specialty Markets: Working for mutual advantage
Ep 64 Sean McGovern CEO of AXA XL UK and Lloyd’s: Re-set and re-launch
Ep 63 The broker of the future: Clyde Bernstein, Head of Broking, Willis Towers Watson GB
Ep 62 Fully capitalised, but rationally hard: the 2021 market with David Flandro of HX
Ep 61 A healing market: James Vickers, Chair Willis Re International
Ep 60 Fear breeds discipline, alignment and innovation: Talbir Bains CEO Volante Global
Ep 59 Jean-Jacques Henchoz CEO Hannover Re: Lean and keen
Ep 58 Talent and a willingness to take on risk: Julian James CEO International Insurance, Sompo International
Ep 57 Color outside the lines: Jim Stanard, Chairman Ariel Re
Ep 56 Like 2001, but completely different: Andrew Brooks CEO Ascot Group
Ep 55 Controlled aggression: Alex Maloney CEO of Lancashire Group
Ep 54 Taking a longer view: Eduardo Pérez de Lema CEO of Mapfre Re
Ep 53 No end game. The journey to Ithaka: David Howden CEO Howden Group Holdings
Ep 52 Vanessa Macdonald-Smith of Oneglobal broking: Putting people before numbers and enjoying the fun of the chase
Special Episode: Technical Debt and how to get out of it, with Bart Patrick of Duck Creek Technologies
Ep 51 David Walsh and Graeme Newman of CFC Underwriting: 20% organic growth forever
Ep 50 John Neal: Putting the Lloyd's halo back in place
Ep 49 Tim Turner: This is not a re-run of 85-86
Commonwealth Insurance Forum Special Episode 1: Insuring high-growth emerging markets with Inga Beale and Lesley Ndlovu
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