Wrestled To The Ground

Originally published in the Captive Review, Guernsey Report, October 2008

David Sheil of Alternative Risk Management contemplates the future effects of the current economic climate on the captive industry

In the middle of September, what was a rolling but intensifying financial problem for a number of Wall Street investment banks and a range of other large American financial institutions rapidly turned into an overnight crisis. The warning signs had already been sent out in July with Bear Stearns. That was followed by a period of accelerating loss of confidence over the summer that led into the Fannie Mae and Freddie Mac rescue; followed closely in September by the collapse of Lehman Brothers.