An industry mulls its New Year resolutions

As 2019 draws to a close, we asked our online readers for their New Year resolutions. While plenty expressed a desire to retire and dodge the Monte Carlo Rendez-Vous in 2020, a few had more thoughtful—and even philosophical—resolutions.

“I would like the industry, for once, to learn from its mistakes of the past,” said one anonymous respondent.

Others had more practical ambitions. P Umesh, an independent consultant, and Simon Bird, active underwriter at Brit Global Specialty, both expressed a desire for more disciplined rates in 2020 while others said the industry needed to get a better handle on emerging risks such as wildfires and cyber as well as on the wider implications of climate change.

Others said a successful and stable Lloyd’s would be on their wish list, while one respondent called for a longer-term perspective from the industry.

“To think long term (10+ years) with respect to reinsurance placement strategy and strategic investment, as opposed to short term (one year),” they said.

Stephen Card, chief executive officer of Carbon Underwriting, had ambitions closer to home. “To grow profitably in a difficult market, provide a fair return for our investors and to be the employer of choice in the London Market,” he said.