Video transcript: Andrew Ward on Market overview

Transcript

The legacy market has developed considerably during the last two decades. It now features a diverse legacy ecosystem of acquirers, brokers and advisors. Key drivers of deal activity have also changed, from a focus on finality for distressed or underperforming liabilities, to a current emphasis on capital management and the expectation that strategic restructuring will be a major factor in the future.

Respondents shared their views on what they consider may have the biggest sector impact in the next two years. These ranged from concerns over inflation, to opportunities from innovative technology, ESG and changes in the regulatory landscape.

My view is that the legacy market fulfils a crucial and increasingly well understood role in the insurance lifecycle. It may face some challenges, but it also has plenty of scope to grow and generate solid returns for investors, while expertly managing portfolios of complex claims, being an outlet for the exit of non core business lines and providing the capital relief solutions sought by the live market.