The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Insurance and capital markets: convergence or collision course?

Icap’s launch of an insurance derivatives and securities broking joint venture will promote liquidity and transparency in this fast-growing niche. If new sources of capital prove resilient to soft markets, insurers may see them as a new strategic challenge.

Munich Re sells the ultimate risk 


Insurance survey: The new masters of risk? How insurers are testing out their capabilities in finance


Michael Spencer, chief executive of Icap

"We are considering longevity derivatives and branching out into other insurance asset classes"
Michael Spencer, chief executive of Icap

WHEN THE WORLD’S largest interdealer broker plunges into a new financial market, it’s a reasonable bet that it is one set for substantial growth. In February 2007, Icap, which boasts a daily transaction volume of more than $1.5 trillion in interest rate, credit, energy, foreign exchange and equity derivatives markets, established a joint venture with insurance broker Jardine Lloyd Thompson to operate in the markets where insurance, financial derivatives and securities are converging. Setting up operations took time and it wasn’t until late last year that it completed its first deal, an over-the-counter catastrophe swap on North American windstorm risk of undisclosed size between two unnamed counterparties. Since then, business has been brisk, Michael Spencer, chief executive of Icap, tells Euromoney.



You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree