With insurers facing increasing pressure to deploy capital efficiently and a growing pool of third-party capital entering the sector, the legacy market is undergoing a shift in how it is perceived and used. According to David Quinn (pictured), Managing Director – Underwriting at Compre Group, reserve risk transfer is increasingly being discussed as part of capital planning rather than as a response to balance-sheet pressure.
For much of its history, the legacy market was associated with insurers disposing of unwanted liabilities and drawing a line under past exposures. Quinn argued that perception no longer reflects how many firms are approaching reserve risk today.
