The Intelligent Quarterly from the publishers of The Insurance Insider

Spring 2012

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Mark Geoghegan Dear friend,

"Dad, did you really wear those silly trousers when you were younger?"

Such was the recent disarming honesty and utter lack of tact from one's young offspring after happening upon old photographs of a more youthful and fashion-conscious incarnation of your noble editor!

Many years ago I wrote a piece on what to wear for Monte Carlo so it is surely time to produce a version more suited to today's in-crowd lest we appear hopelessly "last season".

Well ladies - first a word of timeless fashion advice from an old pro: get the major trends right and you won't go far wrong.

As anyone will know these days sidecars are hot again. Meanwhile, traditional start-ups most definitely are not.

Traditional start-ups are officially the kipper tie and Harris tweed of the age. There are to be seen in history books, but are certainly not welcome attire on late summer nights on the warm and fragrant terraces of the Cote d'Azur.

Sidecars are sleek and sexy - they're instant and reflect the disposable and transient nature of our times. They are the cool financial equivalent of the pop-up shops, restaurants and happenings that you find only in the most chic of cities.

Ladies, you simply must get yourselves one of these essential accessories - they are going fast and if the wind blows hard they are likely to sell out.

All variations of sidecar style are also in this year. Why not spice up your outfit by accessorising with a shiny cat bond or sprinkle on a little glamour in the form of cat derivatives and a bit of exotic contingent capital? Or why not collateralise?

The only exceptions to the no start-ups rule are of course new investment vehicles backing any of the above. We are expecting delightful pristine ILS funds, collateralised vehicles and one-shot reinsurers to be very much in evidence at all the best-attended soirees.

This year you can also mix and match with something timeless and traditional - why not try the classic fabric of good old debt on for size? There are plenty of colours and styles to choose from, so go ahead and be creative. But a word of warning - do forget equity. At these prices, it's just too silly darling. Even haute couture labels know when to draw the line.

And brokers - you really shouldn't miss out. If you've not picked up on the MGA craze, well frankly shame on you!

Ditch the dull polo shirt and khaki chinos combo, for what every dashing broker about town needs this season is a classy underwriting fountain pen, preferably from one of the better houses and dispensing indelible A-grade ink. Once procured, the possibilities are literally infinite!

And now from expected standards of dress to the requisite standards of behaviour and deportment - one really can't have one without the other.

Singles, particularly of the petite and attractive Lloyd's variety, do take some advice and cover up - lest you attract the unwanted attentions of the "wrong sort" of private equity types.

They do so hate being teased, and trust me, they really aren't good marriage material. No sooner have they taken you to the altar than they are cutting your housekeeping and chasing the next "transaction" down the road.

No, far better the steady middle-aged Bermudian or well-established American looking for a transatlantic tie-up and a bit of old world class. They might not be as good-looking but, with a plunge of the neckline and a tactical flash of silk, you'll soon have them eating out of the palm of your hand.

Everyone else, I leave you with customary advice - watch out for seductive brokers, bankers and lawyers, pack some sensible shoes, and do remember to bring an umbrella for the inevitable half-hour thunderstorm.

Yours Sincerely

Mark Geoghegan,
Editor

PS. Let no lighthearted frivolity detract from this year's sad and poignant 10th anniversary of the 11 September terrorist attacks. On the opening Sunday of the Rendez-Vous our solemn thoughts and prayers will be with the victims and all those closely affected, in our industry and beyond.