Steve Ryland is responsible for originating and executing Retrospective solutions for new and existing clients. This involves evaluating the benefits of the different structured solutions and providing strategic advice that matches the client’s business objectives. The motivation for using these products has changed considerably over recent years.
Today insurance and reinsurance carriers use these products to optimize business performance. The benefits include releasing capital allocated to reserves on back book underwriting years, freeing up capital that improves Return on Equity, providing capital for growth or providing dividend or capital repatriation to Group. It also can provide a P&L profit by obtaining a premium less than reserves. In addition, the product simplifies the operating model, reducing operating costs and providing back-year results certainty ensuring stable forward results. Retrospective Solutions includes Loss Portfolio Transfers (“LPT”), Adverse Development Covers (“ADC”), Reinsurance to close (“RITC”) and non-core or discontinued entity sales. Other finality solutions like Part Vii’s, European transfers and IBT’s can be executed.
Steve was previously Group Chief Commercial Officer and Group Head of Global Distribution at Catalina Holdings Bermuda, Catalina UK CEO and EVP and member of management at the Amour Group. Prior to that Steve was an Executive at PRO Insurance Solutions (the former service entity of Swiss Re) leading Global Business Development from its launch. Steve has closed over sixty transactions in multi jurisdictions and has 35 years of insurance, reinsurance, and consulting experience.
He is a Chartered Practitioner with the Chartered Insurance Institute.