Insurance Capital Markets Research

We are specialty (re)insurance quantitative analysts
Our data, analytics and insights help our clients make better decisions

Innovate - Differentiate - Scale

Recent insights

Review of 2023: Investor appetite returning

Annual returns of the ‘RISX’ equity index of listed companies with Lloyd’s businesses remained strong, and with lower correlation

Asset management: a new frontier in underwriting RoE?

With risk free rates at decade long highs, investment contribution is now a critical component of returns on equity

The growing importance of ESG at Lloyd’s

From the novelty of dedicated syndicates to BaU

About us


Markus Gesmann

A co-founder of ICMR, Markus has spent over 20 years in both insurance and capital markets. He is the former head of analysis at Lloyd’s, where he set up a market wide analytical performance and price monitoring framework. Markus was head of pricing at an ILS joint venture with Lehman Brothers and Vario Partners, structuring innovative risk transfer solutions into capital markets.

Markus is an expert in modelling non-life insurance portfolios and probabilistic programming, and an Honorary Visiting Fellow at Bayes Business School, City, University of London.


Quentin Moore

A co-founder of ICMR, Quentin has over 30 years Lloyd’s and capital markets experience, including directorships of managing agencies and head of research at Lloyd’s where he co-authored Lloyd’s Performance Management template in the aftermath of Lloyd’s WTC losses of 2001, helping implement Lloyd’s capital modelling and risk management.

Quentin co-founded an ILS joint venture with Lehman Brothers as well as a Bermuda-based ILS firm, Vario Partners. He has worked in private equity, in investment banking and in actuarial consulting.


Insurance Capital Markets Research is the trading name of IC Markets Research Ltd., registered in England & Wales with company number 12561699