Time flies, and it is hard to believe that JLT Fac is now two years old. As we look back on 2017, we can reflect on what a remarkable year we have all just been through as an industry. What has been of particular note is that the Insurance market has demonstrated its resilience in the face of extreme adversity and most importantly its ability and alacrity in paying claims. After all, that is why our clients buy insurance/reinsurance and we have had the perfect opportunity in 2017 to show the benefit that our broad suite of products offer in rebuilding after an extreme event.
Whilst there are some who are both surprised and somewhat disappointed that the multiple events of 2017 have not produced the anticipated turn in the market, it is a good testament to the future that we witnessed swift and committed reloading of capital and that new capital continues to invest in our sector.
2018 will undoubtedly prove to be a pivotal year for many companies and syndicates and we can only hope that the meteorological conditions are somewhat kinder to everyone. We expect to see continued M&A activity, as well as increased moves towards purpose built Sidecar vehicles (SPS’s) and MGA’s.
Facultative products will continue to play an important part in our clients need going forward and JLT Fac is perfectly placed to add value and innovation. We would like to thank you all for your continued support and engagement with our highly skilled and professional team and we look forward to continuing to provide you with effective solutions during the course of 2018.
-Vanessa Macdonald-Smith, CEO JLT FAC
Download the full JLT Fac Market Update below