Today’s episode is all about legacy. Legacy used to be called run-off and run-off conjured up slightly negative connotations of difficult old greyhairs in dusty out of the way offices eking out a dwindling pot of claims until retirement.
I used to think that its keenness to rename itself was a sign that it wanted to rehabilitate itself in some way and that the change was merely cosmetic or aesthetic.
But over the years it has become obvious that the words run-off had themselves to be put into run-off.
This is because legacy has developed into a sophisticated capital management tool and is far more about adding value and operational efficiency than the handling of intractable old claims.
Today’s guest is the embodiment of that leap in sophistication over the past two decades.
Tom Booth is the CEO of Darag, a legacy player with access to capital and global growth ambitions.
His background is high finance and I think it really shows through in this encounter.
Legacy is becoming a very useful long-term partner of the industry and people like Tom are only going to make it more relevant in the future.
We slay a lot of myths in this episode, so stay tuned.
LINK:
We thank Claims Direct Access (CDA) for their support today.
Here is a link to their website:
https://www.claimsdirectaccess.com/
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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
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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
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Ep 48 D&O: The hardest market of all time with David Ritchie of Gallagher UK
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Ep 46 The Best Market for a Decade: David Croom-Johnson MD Aegis London
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