The barbarians return
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The trouble with tried and tested
formulae in entrepreneurial finance is that they usually stop
working over time.
Time was, to make big money in the global insurance start-up business you waited for a bout of market dislocation, and with contrarian élan invested aggressively in providing capacity when that capacity was scarce and expensive.
You picked your moment, be it the US liability crisis of the mid 1980s; the post Andrew cat crunch of 1993; or the...
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