At The Insurance Insider's legacy roundtable a year ago, the most prominent theme was hope.
Hope sprung eternal: hope that the new Solvency II regime would lead to greater opportunities for buyers of run-off assets; hope that a long soft cycle on rates would force live-market players to consider the use of their capital; and hope that the impact of catastrophes early in 2011 would prove a boon to the sector.
However, not unlike a politician running for re-election, the word "hope" seems to come with rather more caveats than before.
The truth is that the legacy sector is in a state of flux. Thus, when a group of leading legacy experts met in Brighton to discuss issues connected with the sector, it was with the full knowledge that all of these moving parts were going on at once - providing the stimulus for a lively debate!
Please click here to download the 2012 Legacy Roundtable.