Richard Brindle (pictured right) and Dan Burrows (pictured left) of Fidelis are in the latter category and are about to make history by becoming the first traditional balance sheet insurance company to split its underwriting and its capital into two independent entities.

It’s a typically bold and fascinating move and one which throws up many questions.

Are they doing this because valuations of balance sheets are so low and those of MGAs are so high, or are there other motives for going through such a painful process?

The answers are all here.

Richard also unloads a huge amount of his insight on the state of the reinsurance and specialty markets as we head into the 1.1 renewal season.

It’s the toughest talk I’ve heard in my career and that includes the post Katrina Rita and Wilma market of 2006, into which Lancashire was born.

This all adds up to one of the best podcasts you’ll listen to this year, or any year.

NOTES

One slip of the tongue on an acronym. SRT stands for Significant Risk Transfer not Strategic Risk Transfer.

We thank our naming sponsor AdvantageGo:

https://www.advantagego.com/

We also thank this Episode’s advertising supporter Oxbow Partners

https://oxbowpartners.com