Pandemic-Induced Market Dynamics Could Result In Class Of 2020

As the ongoing COVID-19 pandemic continues to alter the global economic outlook and influence the dynamics of the risk transfer space, there could be an opportunity for the new, specialist players to enter the P&C space.

This is the view of Adderley of global law firm Appleby, who in a recent interview with Artemis, discussed the potential impact of the coronavirus outbreak on the Bermuda market.

"I think this is going to drive new startups, and I realise that's different," he began.

Over the last ten years or so, market sentiment has generally suggested that you're not going to see another Class of 2001 or 2008. With the exception of Convex last year, for the most part, the P&C side of the business hasn't really seen startups, but has seen capital raises and sidecars.