What is on the horizon for the combined SSL Endeavour platform? Blue sky thinking with Roger Spicer, SSL Endeavour Group CEO.
It’s fair to say there has been a lot of movement in the broker world of late, with market-changing mergers and acquisitions being announced almost on a monthly basis. Following a quiet 2017, deal making has really ramped up this year, with private equity continuing to play a central role in realising transactions.
The drivers of these deals will vary, but size, business line expansion and talent acquisition are three prevalent themes I’m certainly observing.
Amongst all this, the SSL Endeavour merger is a stand-out deal. Ours is a ground-breaking transaction that has the clear advantage of adding value and choice for clients, rather than bringing two competing businesses together and trying to squeeze out synergies.
The SSL Endeavour deal is unique in that it saw a flexible blue chip backer invest into the management teams of both brokers with the strategy of supporting us in expanding and obtaining further scale.
It is all about providing an even better offering to our clients. Clients must come first. They are at the heart of everything we do.
That is why, when we come to further expand, we are not interested in simply acquiring revenue streams. There needs to be value, client-first approaches to developing products. We are looking for like minded people who are interested in joining a dynamic, growing and forward looking business.
Expansion via organic growth is also critical; SSL Endeavour will harness its talent and expertise to develop new products that address real world challenges faced by clients, designed for clients by leading experts.
Talent and technology
The future of the London Market is about talent and technology. Attracting, retaining and growing the expert knowledge base at SSL Endeavour is critical to our future success.
At the same time, using the most efficient processes is also critical to delivering value to clients, particularly at a time when so much focus is on the perceived efficiencies and cost of doing business with the London Market.
Endeavour has already developed the innovative Advantage claims management platform – claims streamlining technology offered free of charge, which has brought huge benefits, efficiencies and value to clients and underwriting partners alike.
Combining marine, energy, cash in transit, financial institutions, political risk, cyber specialisms, Coverholder and delegated authority offerings and more, we consider ourselves now to be a truly diversified specialist lines broker, and an excellent platform for further growth.
Autonomous and flexible
Our size allows us to continue to maintain an autonomous and flexible working structure and this means we are able to ensure we are poised for the future. Change is on the horizon, both from a risk perspective and from an operational point of view. We must remain agile.
We expect technology to play an important role in all aspects of the business. Merging with Endeavour has meant that we have been able to combine all our innovative approaches to products and services, and you know what they say, two heads are better than one! And, in this case, we have been able to bring together so many innovative mindsets.
An agile vessel
So, to build on David Lawrence’s excellent blog a few months back which likened SSL Endeavour to a newly launched ship – as we look ahead from the observation bridge of this larger and more agile vessel, we recognise the waters won’t always be smooth and new risks will continue to challenge us.
But as SSL Endeavour, we are stronger, more experienced and, with a wider breadth of expertise, we are poised to navigate our clients and partners through the future of risk.