Behind the Headlines: Oak Global’s Cathal Carr on reinsurance recency bias

Following a period of dwindling market share for London in reinsurance, reinsurer start-up activity has returned to the Square Mile.One such business is Cathal Carr-led Oak Global, which launched in 2024 and now boasts two syndicates.But why choose to launch in Lloyd’s?Carr told Behind the Headlines how Lloyd’s provided a unique access to capital which was transformational in its launch phase.Discussing market conditions, he said that the soft reinsurance market was operating with “recency bias” following several years of benign claims activity.In addition, Insurance Insider’s Rachel Dalton and Sam Casey discuss a spike in claims activity in the energy market.