Ep 34 Worldwide ambition with Mike Reynolds of Oneglobal

In the insurance media we talk about classes of new carriers
being formed in mass flowerings of capitalism after the bursting
of prolonged soft markets, but we never apply this term to the
birth of intermediaries. This is because the distribution side of
our industry tends to renew itself more organically and less in
dramatic waves. Except that right now the conditions are perfect
for a mass expansion in this space. The consolidation of Marsh
& McLennan and JLT and the prospect of Aon and Willis coming
together are providing a once in a lifetime strategic backdrop
for independents that can attract the right talent. A sustained
hard market has taken hold in core lines of business, giving a
second boost and market reforms in hubs such as London are giving
a chance for operational efficiencies and competitive advantages
to be built into new businesses from day one. Add to this record
low borrowing costs, high valuations and a growing view from the
investor community that broking houses have more in common with
annuities than venture capital investments and you have a heady
cocktail. Into this mix I welcome Mike Reynolds the new CEO of
Oneglobal Broking, a London wholesaler born of the merger between
SSL and Endeavour and fueled by an investment from JC Flowers.
Mike has had a very long career in the insurance business and
most recently ran reinsurance broker JLT Re.


In this interview we learn about Oneglobal’s major worldwide
plans and Mike’s vision of how to build a global challenger in
the wholesale specialty and reinsurance space. Mike is good
company so I think you will enjoy spending the next half hour or
so with him.


NOTE:


Mike mentions a Jonathan. He is of course referring to Jonathan
Palmer-Brown, the Chairman of Oneglobal Broking


LINK:


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