Managing and founding Partner Jeremy Camps has some 50 years experience in reinsurance – that is technical reinsurance from his initial 7 years as a management trainee at Victory Reinsurance in London with exposure in the claims, statistics and accounting departments of the Company to acting as a junior and eventually senior underwriter of a general treaty reinsurance portfolio.
After this Jeremy was tempted by the active nature of broking ie the opportunity to be involved in the structuring of reinsurance, particular the all important treaty programming. Starting with production and reinsurance scheming of Dutch Mutual insurance he progressed to the large regional German Mutual insurers and developed a lifelong love affair with East Asian insurance. This was during a period when the Asian economies were developing and insurance along side of them.
For him nothing was too complex or challenging and he realised the importance of developing strong relationships with reinsurers to support the business. He believes that the strong client/reinsurer relationship is and always has been the key to long term success. The current somewhat antagonist business basis between client insurer and broker fostered by broker competition but allowed by reinsurer competition, whilst giving increased competitiveness and hence pricing has inevitably led to a situation where reinsurers have lost money and are in consequence forced to withdraw from areas of business. Much of this has yet to become evident but when it does there may be major problems for client insurers who are ill equipped to meet the challenges. Capacity could become a major problem.
It is for example an inevitable conclusion that insurance rates (and hence facultative reinsurance rates) are far too low in areas exposed to natural catastrophe and must rise. Following the amicable purchase of JCC Re by PWS and the appointment of a new team it was time for Jeremy to move on and his appointment as a non executive consultant to PWS with a focus on production from his clients without such a major involvement in the business led him to think how he could use the knowledge and experience gained in his 50 years in the business. The formation of JCC Consultants Ltd in Labuan was also beneficial because it gave him an opportunity to think what he could offer and how best to do this.
The termination of his consultancy with PWS at 1 st July 2013 will give him greater freedom to operate which should be to every ones benefit.