Howden Re Programs: Greater alignment of interests between businesses and their capacity backers is needed
Published
Michael Jameson, Managing Director, Howden Re Programs, spoke to The Insurer at Target Markets Mid-Year Meeting in Tampa, Florida, in May, commenting that start-up programs have become harder to place in recent years, and for insurtechs in particular there is a need for greater alignment of interests between businesses and their capacity backers.
“Unless there’s a really good hook, in terms of technology … or a very niche product, or distribution play, whereby they have unique distribution that doesn’t cross over to any other carriers’ distribution – apart from that, the start-up is still difficult,” he said, going on to comment that Howden Re programs is “not afraid to do things that are difficult”.
“If it seems like ‘Mission Impossible’, we seem to be the first call, in terms of getting those things done. I think over the years, we’ve developed a reputation for really concentrating on this business.”
“We’ve really dug in and really put 100 percent of our time and effort and interest into the MGA space. And I think that’s really paid dividends, and in terms of our client base, and the loyalty with which we’ve benefited from that,” he added.
Watch Michael Jameson’s full interview with The Insurer to hear more about:
- How creating a great alignment of interests is becoming critical to getting start-up deals off the ground
- Why more “pure” fronts are evolving into “hybrid” fronts with more risk retention
- How the market “responded in a really efficient and effective way” to Vesttoo scandal after the initial panic around the episode subsided
- How Howden’s programs team has evolved over time and has become a “first call” for stressed business
- An overview of Howden’s MGA portfolio and an update on market conditions
