RVS 2024 recap: Capital Markets & Advisory
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The importance of Lloyd’s market consortia
The popularity of consortia has exploded in recent years, as syndicates increasingly incorporate the leading and following of consortia into their strategies for growth and efficiency gains.
‘Consortia play a vital role in fostering innovation’, say Managing Directors of Howden Re Fac, David DeJong and Tom Gauge, in an interview with Intelligent Insurer
David DeJong and Tom Gauge, both managing directors of Howden Re, have witnessed this first-hand at the company, the only broker with fully dedicated consortium placement and operational resource.
“It’s still a greenfield market but consortia are here to stay,” says DeJong. “They will become part of the mainstream, but currently a surprising number of underwriters and brokers in the Lloyd’s community remain unaware of their benefits.“
“Consortia look similar to other products available in the insurance and reinsurance markets but are unique in placement and operational terms.“
Reinsurance capacity crunch threatens growth in financial risks sector
In an interview with Reinsurance News, James Loggie, Managing Director of Howden Re Financial Risks, emphasised a critical need for growth in the reinsurance market to match rising demand. Despite the stability and strong performance of the financial risks sector post-pandemic, the reinsurance market faces urgent pressure to expand.
“The underlying insurance business is outpacing the growth of the reinsurance market, which is complicating new placements during renewals,” concluded Loggie.
