Our Executive Team

Following another turbulent year in the delegated authority (DA) market, the January 1 renewal period was a very busy time for the sector, with many MGAs shaping their capacity for 2021 - which could well prove to be a pivotal year for the delegated market sector.

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With an already hardening landscape at the start of the year, the COVID-19 pandemic has further compounded market conditions and led to a strain on underwriting results. Despite this, the energy insurance market continues to be one of Lloyd’s best performing business classes, even after one of the most active North Atlantic windstorm seasons on record.

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The current market cycle has its origins somewhere in late 2017. At that time, the protracted soft environment had started to come to an end, as natural disasters and various liability issues across all sectors started to highlight the simple fact that results could no longer withstand soft trading conditions. Various European insurance companies failed, Lloyd’s made a clear message about remediation and the market at large started to fall into line. The tide had turned.

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