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And if you still have any outdated ideas about what run-off is in the 2020s, a few minutes in Luke’s company will set you straight.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
Ep180 Craig Kingaby CEO Meridian & Mark Heath CEO Acies: Playing our own game
Special Ep Amrit Santhirasenan CEO hyperexponential: How to win at the team sport of underwriting
Ep179 Antony Erotocritou CEO Ardonagh Specialty: We’re not slowing down
Ep178 Tony Ursano of Insurance Advisory Partners: A ton of fun!
Special Ep Paul Templar and Sebastian Prosser of VIPR: Stop throwing people at the problem
Special Ep Warren Downey & Lee Anderson of Specialist Risk Group: Building a natural home for specialists
Ep177 Chris Killourhy QBE Re: Balance is critical
EP176 Lorraine Harfitt of Asta: People, Plan, Capital.
Ep175 Julian James, Sompo International: A Degree of Equilibrium
Ep174 James Drinkwater, Amwins: Time and Money
Ep173 Clive Washbourn of Navium: Welcome back, my friends
Ep172 Simon Lightbody CEO Rhodian: Making a home they’ll never want to leave
Ep171 Alex Powell of Aegis: Realistic, but with an added dose of niceness
Special Ep David Cabral: Thinking beyond ESG
Ep170 Simon Wilson, President Markel International: The market will dictate
Ep169 Keith Meier of Assurant: Listen to your customers
Ep168 Sean McGovern, Chair of the LMG: On the verge of achieving real change
Special Ep: James York of Peaccce - from inertia to outright hostility
Ep167 Steve McGill: A billion in revenues through organic growth
Ep166 James Boyce CEO Global Specialties Guy Carpenter: Retro pushing peak affordability
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
NABOR® TALKS
U.S Property Podcast
Aligned Money Show
The Ramsey Show
Planet Money