Monte Carlo #71 - Kate Tongue & Robert Flach: Investors Are Arriving Late to Lloyd’s

New capital is still queuing up for Lloyd's, but Argenta's Kate Tongue and Robert Flach reckon the smart money is taking its time. On board the Supercede yacht at Monte Carlo RVS, they explain three things: why investors tend to show up a year too late, why a diversified Lloyd's portfolio can rival ILS returns with less risk, and why capital cares less about a syndicate's AI than about who's parameterising it.

WHAT YOU'LL LEARN:

• Why new capital providers are playing the long game at Lloyd's, starting with 20 to 30 million of premium in year one
• Which investors are now eyeing Lloyd's, from US mutuals with surplus on their balance sheets to hedge funds and pension schemes
• How Lloyd's capital efficiency lets a spread portfolio compete with ILS, where the outcome depends on whether the wind blows
• Why syndicate selection matters more than class selection now that the easy-money years are over
• How investors with the right mindset can treat geopolitical losses as next year's opportunity

TIMESTAMPS:00:00 Intro00:51 Is There Still Room for New Capital at Lloyd's?01:55 Why Most Investors Arrive a Year Too Late02:45 The New Capital Pool: Mutuals, Hedge Funds and Pensions03:47 Teaching Investors That Lloyd's Is (Still) Complicated04:29 Syndicate Selection After the Easy-Money Years05:31 Niche Classes, Diversification and the ILS Comparison07:15 Does a Syndicate's Tech Story Matter to Capital?08:43 When AI Will Actually Move the Dial09:41 Geopolitical Risk: Threat or Opportunity for Investors?11:16 Lloyd's Leadership and Tougher Consortium Scrutiny

EPISODE LINKS:Kate's LinkedIn: https://www.linkedin.com/in/katejohnsontongue/

Robert's LinkedIn: https://www.linkedin.com/in/robert-flach-21ab114/

Argenta: https://www.argentagroup.com/

CONNECT WITH US:Say Hello: producer@thereinsurancepodcast.comWebsite: https://www.supercede.comLinkedIn: https://www.linkedin.com/company/supercedehqX: https://twitter.com/SupercedeHQYouTube: https://www.youtube.com/@SupercedeHQRSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss