My career in insurance was spent largely as a generalist and that’s why when I meet a specialist I really enjoy it.
There is something amazing about the level of nuance and detail that specialists can reach into that adds enormous value to the rest of us if we have time to get all of the details out of them.
Today’s specialist is James Boyce CEO of Global Specialties at Guy Carpenter which means we are in for a treat because we are getting the best of both worlds.
That’s because Guy Carpenter can share as broad a global view of the market as is possible but at the same time we get an incredibly deep level of specialist knowledge and understanding.
In today’s show we are focusing primarily on the retro markets. James and his colleagues have been in the thick of it and in this Episode we really clear the decks about where the market has landed after one of the most turbulent renewal periods in its history.
I think that the picture that emerges is quite positive.
The market has made rational changes that will set it in good stead for seasons to come, but although the product has fundamentally repriced right to the top of its useful range, the market is clearing and is a lot more predictable than it was at the end of last year.
The underlying health of the market has also been buoyed by the news that despite Hurricane Ian and the Ukraine conflict, the retro market managed to post a profit in 2022 and has moved decisively back up the value chain, well away from attritional exposures.
James is excellent company – well, he is a broker after all – and after this episode you’ll be right up to speed with the mood of underwriters and their capital backers in this the highest, but often least understood end of the capital stack that underpins the global insurance industry.
LINKS
We thank our naming sponsor AdvantageGo:
https://www.advantagego.com/
Ep 94 William Spiegel Executive Chairman R&Q: Prospering as the insurance ecosystem comes apart
Ep 93 Simon Matson of Gallagher and Tom Wakefield of Gallagher Re: A deal made by customers
Ep 92 Andreas Berger Swiss Re Corporate Solutions: Start early and do it quickly
Ep 91 Bob Kimmel CEO of K2 Insurance Services: On the hunt for talent and capacity
Special Episode: What the Polish market wants, with Michał Chmielewski and Tomasz Libront of Smartt Re
Ep 90 Javier San Basilio of Mapfre Re: Not opportunistic by definition
Ep 89 Jeff Radke CEO Accelerant Holdings: Searching for gems & avoiding landmines
Ep 88 Monica Cramer Manhem, President, International Reinsurance SiriusPoint: Using all the tools in the box
Special Episode: The Future of Underwriting with James Slaughter and Silvi Wompa Sinclair
Ep 87 Rod Fox & Rob Bredahl of TigerRisk: Don’t stop me now
Ep 86 Philip Smaje and Marcel Chad of Piiq Risk Partners: Specialty risks need specialty brokers
EP 85 Clive Washbourn CEO Navium: The market is always good
Ep 84 Keith Harrison International CEO Lockton Re: Going head to head with the bigger brokers
Special Episode: State of the Market Roundtable with Greg Hendrick, Marc Adee and Andrew Robinson
Ep 83 The $60bn broker: Olga Collins CEO Worldwide Broker Network (WBN)
Special Episode: The Power of Purpose with Steve Hearn CEO of Corant Global and Delta V Partners
Ep 82 David Bearman CEO Aventum: Don’t walk into a crowded room
Ep 81 Ash Bathia CEO Probitas 1492: Driving your own destiny
Ep 80 Matthew Shaw CUO of TMK: The most submissions for a decade
Ep 79 Neil Eckert and Trevor Carvey of Conduit Re: Big enough to be impactful but small enough to be nimble
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