March 27th, 2009

Week’s Top Stories: Mar 21 - 27, 2009

Posted at 4:00 PM ET

Shareholders’ Funds Down 18% for Global Reinsurance Composite: Shareholders’ funds for 16 of the 20 companies in the Guy Carpenter Global Reinsurance Composite are down 18 percent from year-end 2007 to year-end 2008.

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Catastrophe Bonds – Safe from the Storm: Last year, a financial catastrophe shook major market centers around the world. Several prominent, global banks have all but disappeared. Yet, insurers and reinsurers, in general, have persevered.*

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2008 Natural Catastrophe Summary: Natural catastrophe losses of more than USD200 billion made 2008 the third most expensive year for catastrophe losses — surpassed only by 2005 (Hurricanes Katrina, Rita, and Wilma) and 1995 (Kobe earthquake). Last year was also one of the deadliest, with more than 220,000 estimated fatalities from natural catastrophe events.

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Lloyd’s Shareholders’ Funds Relatively Stable: The listed Integrated Lloyd’s Vehicles (ILVs) lost shareholders’ funds totaling 2.1 percent — down from GBP6.2 billion in 2007 to GBP6 billion in 2008. The spread among individual ILVs ranged from an increase of 13 percent to a decline of 20 percent.

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Guy Carpenter Western Region Seminar a Resounding Success: Guy Carpenter hosted (re)insurance industry executives from the western region of the United States on March 4 for a two-day event to discuss the challenges of managing risk and capital in a precarious economic climate.

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And, you may have missed …

NERA’s Latest Thinking on SEC Settlements in Ponzi Scheme Cases: SEC Settlements in Ponzi Scheme Cases: Putting Madoff and Stanford in Context, a new working paper by NERA Economic Consulting, examines the sizes of Securities and Exchange Commission (SEC) settlements in Ponzi scheme cases.

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*Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities Corp., a US registered broker-dealer and member FINRA/SIPC. Main Office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Securities or investments, as applicable, are offered in the European Union by GC Securities, a division of MMC Securities (Europe) Ltd., which is authorized and regulated by the Financial Services Authority. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities Corp., MMC Securities (Europe) Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies. This communication is not intended as an offer to sell or a solicitation of any offer to buy any security, financial instrument, reinsurance or insurance product.

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