HISTORY/BACKGROUND
JCC Consultants LTD was set up by managing and founding Partner Jeremy Camps
(See CV). Jeremy with some 50 years’ experience in reinsurance – that is technical
reinsurance from his initial 7 years as a management trainee at Victory Reinsurance
in London with exposure in the claims, statistics and accounting departments of the
Company to acting as a junior and eventually senior underwriter of a general treaty
reinsurance portfolio.
After this Jeremy was tempted by the active nature of broking ie the opportunity to be
involved in the structuring of reinsurance, particular the all important treaty
programming. Starting with production and reinsurance scheming of Dutch Mutual
insurance he progressed to the large regional German Mutual insurers and
developed a lifelong love affair with East Asian insurance. This was during a period
when the Asian economies were developing and insurance along side of them.
For him nothing was too complex or challenging and he realised the importance of
developing strong relationships with reinsurers to support the business. He believes
that the strong client/reinsurer relationship is and always has been the key to long
term success. In an unstable world insurance companies particularly in developing
countries need stability in a truly cyclical business, losses as have occurred mainly
natural catastrophe but in other property and liability and will continue to occur.
Undoubtedly the current somewhat antagonist relationship between client and
insurer due to general results but fostered by broker competition has led to capacity
shortages, reinsurer competition is almost a thing of the past but as usual on the
cycle increased rates and greater insurer underwriting discipline will bring more
reinsurers in but judging by the past this new capacity will focus on limited areas of
business. As we wrote then much of this had yet to become evident but when it did
there were major problems for client insurers who were ill equipped to meet the
challenges. Capacity became a major problem.
We suggested that insurance rates (and hence facultative reinsurance rates) were
too low in areas exposed to natural catastrophe and must rise, some did some did
not, the smarter operators introduced higher deductibles and even exclusion of small
value but loss producing elements like burglary and theft in facultative placements
helping to create capacity.
It is this sort of thinking which can add real value to an insurance company’s
business, matching reinsurance to it.
In the past as in Jeremy’s case this was provided by the broker but in the era of cost
reduction this service has declined.
For new and small insurance companies our advice on reinsurance programming,
insurance and reinsurance I.T plus product development can be of great benefit.
JCC CONSULTANTS LTD 