Insurance Capital Markets Research

Quantitative (re)insurance research
Home of ICMR.Matrix and RISX Index

RISX Index Press release: ICMR launches RISX Index

ICMR.Matrix: Unique insight into Lloyd’s

ICMR.Matrix provides capital transparency on Lloyd's syndicates.

The ICMR.Matrix data engine of strategic information and associated cloud-based apps can support you in:

Demonstrating your value drivers to Lloyd's, NEDs, parent companies and investors
Pathfinding to top quintile / light touch status

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Scalable tools - Bespoke reports

ICMR.Matrix lets you understand Lloyd's competitive landscape in performance, capitalisation and valuation

ICMR.Matrix brings together a unique mix of comparative Lloyd's data; we can even adapt to your internal management information template. See whether your performance is getting the CPG recognition it deserves in your capital setting and how effective you are at achieving this compared to others

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Research & Resources

RISX Index: more than just a benchmark

This article outlines some of the drivers behind the creation of the RISX index

10 Jun 2021 3 min read RISX, Value Creation

Press release: ICMR launches RISX Index with Moorgate Benchmarks

ICMR launches innovative new ‘(re)insurance specialty equity index’ and selects Moorgate Benchmarks as its administrator

24 May 2021 3 min read Press release, RISX

Third party capital vs building value: revolution or déjà vu?

With improving performance and an expanding range of options for investing, now may well be the best time for some while to be an …

13 May 2021 8 min read Events, Analysis, Value Creation

Signs of a turning tide at Lloyd's

Despite of another loss making year at Lloyd’s, signs of a hardening market are becoming visible

7 Apr 2021 4 min read Analysis, ICMR.Matrix

Value creation at Lloyd's: It's not all about the Underwriting Room

The market is buoyant about near term underwriting conditions, but just how important are they to cross-cycle value creation compared …

4 Jan 2021 5 min read Analysis, Value Creation

17 years of Lloyd's Performance Management

Was it worth it? Time will tell.

17 Nov 2020 3 min read ICMR.Matrix, Analysis

The Lloyd's 2021 $15bn stakes

ICMR.Matrix; a new tool to assess which syndicates are best placed to win the race for more new business

12 Oct 2020 3 min read ICMR.Matrix, Analysis

The reserving cycle and how to avoid it

The Casualty Actuarial Society publishes reserving paper using probabilistic programming

3 Sep 2020 3 min read Analysis

A new metric to assess the insurance cycle?

Research by ICMR shows that comparing stock performance of specialty re/insurance companies with the S&P 500 can provide new …

15 Jul 2020 4 min read Analysis

Lloyd’s return on capital: the good, the bad and the ugly

For the first time investors can review Lloyd’s syndicates’ return on capital and compare them directly with other re/insurers.

24 Jun 2020 2 min read Analysis

Follow the money: Lloyd's cumulative P&L over the last 20 years

Lloyd’s wrote £448bn of gross premiums since 2000, incurring gross claims to policyholders of £288bn, delivering a net combined …

28 Apr 2020 3 min read Analysis

Performance transition frequencies at Lloyd's

Maintaining performance is one thing, improving performance is a lot more challenging

21 Apr 2020 3 min read Analysis

Lloyd's combined ratio performance distribution

Only top quartile and very few second quartile performers achieved underwriting profits in 2019.

14 Apr 2020 3 min read Analysis

Value creation at Lloyd's

Materials from the cancelled joint LMA event 18 March 2020

8 Apr 2020 5 min read Events, Value Creation

Review of syndicates' results 2015 - 2019

You don’t have to be big to be successful, but you can get big if you are successful.

6 Apr 2020 2 min read Analysis

Lloyd’s 2019 results by syndicate: Bigger was better

In 2019 there were 110 syndicates, including special purpose arrangements (SPA), of which 105 stated positive GWP, with 56 breaking …

30 Mar 2020 2 min read Analysis

First look at Lloyd's results 2019: The tide hasn't turned yet

Today Lloyd’s released the 2019 pro-forma results for the market stating a profit of £2.5bn. This is a huge improvement to last …

26 Mar 2020 3 min read Analysis

Cancelled: Joint LMA event 18 March 2020

In response to the evolving COVID-19 situation “Value Creation at Lloyd’s” panel discussion will not go ahead on 18 March.

13 Mar 2020 1 min read Events

Joint event with LMA on Value Creation at Lloyd's

On 18 March together with the LMA we are organising a panel discussion on the topic of ‘Value Creation at Lloyd’s’

9 Mar 2020 1 min read Events

What does value creation mean in the Lloyd’s market?

Introducing the London Insurance Market Index

20 Jan 2020 3 min read Value Creation

About Insurance Capital Markets Research

The insurance and capital markets have existed in very close proximity for centuries. Yet, they drifted apart as each industry …

19 Jan 2020 3 min read

Built by experts

ICMR was founded by Lloyd’s former heads of research and analysis Quentin Moore and Markus Gesmann.

Markus and Quentin were instrumental in the establishment of the Performance Management framework at Lloyd’s. Their teams have developed and established many of the performance reports and data driven assessment tools used today.

Having also worked together in the capital markets and ILS, they founded ICMR in early 2020 and launched the RISX Index in 2021.

Markus Gesmann

[email protected]

+44 (0)798 100 6152

8 years leading Lloyd’s of London analysis department
4 years leading risk modelling in investment banking and ILS
Co-author of industry academic papers and occasional university lecturer
Founder of Insurance Data Science conferences
Author of reserving software in ‘R’ and research paper

Quentin Moore