Insurance Capital Markets Research

ICMR provides analytical and research services focused on non-life property & casualty (re)insurance and capital markets.

We help our clients understand the underlying value of underwriting decisions, as well as monitor market participants’ relative value over time.

Bringing together quantitative and qualitative research

Insurance & capital markets

Measuring value creation for non-listed insurers

Advisory & Consulting

Transaction advisory services, focusing on valuation, performance and structuring

Holistic risk models

Portfolio level risk models

Research Articles & Events

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

Introducing the Lime Street Value Creation Index

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 …

Maximising Value in a Lloyd's Business

Part of the “LMA Academy Maximising Value in Lloyd's” Business Programme we delivered three modules on capital, …


over 50 years of industry expertise


Markus Gesmann

+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

Quentin Moore

+44 (0)791 220 7199
  • 4 years as Head of Research at Lloyd's of London and co-author of Chairman's Strategy Group Consultation Document - Lloyd's performance management template
  • Co-founder of investment bank ILS joint venture
  • Private Equity advisor on insurance assets and capital structuring
  • Co-founder of specialist London Market analytics firm
  • Former director of Lloyd's managing agency and occasional university lecturer