Hope, they say, springs eternal. And perhaps this is truer in the insurance run-off world than anywhere else at present, as panellists proved this year at The Insurance Insider's annual legacy roundtable.
The industry has been operating in challenging conditions recently. The financial crisis did not bear the bountiful opportunities that many predicted, as regulators and government stepped in to bail out troubled firms and flood the financial system with life-supporting liquidity.
So much for that panacea, then.
But fear not! For Solvency II is still lumbering on the horizon. And where the live market sees nothing but frustrating and onerous regulatory burdens and increasingly stringent capital requirements, legacy players see just one thing: opportunity.
click here or on the image to download the 2011 Legacy