Florida Insurance Roundup: Apr 13 — 19, 2009: This update covers several topics:
- Committee Sends Property Insurance Bill to Full Florida Senate
- Non-Assessable Property Policy Legislation Clears Senate Banking & Insurance Committee
- Florida Seeks Federal Funding to Back up FHCF
- Florida SBA Presented on FHCF to the Florida Cabinet
- MSFH Could Reduce Hurricane Losses Significantly
Bermuda Update: Premium and Market Trends: Gross and net written premium contracted moderately in 2008, as measured by the Guy Carpenter Bermuda Composite. Insurance premiums written by Bermuda companies expanded, while reinsurance premiums fell.
Cat Risk in a Solvency II Environment: Many approaches exist for use in assessing catastrophe risks. Under Quantitative Impact Study 4 (QIS4), the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) provided a list of those that can be used for Solvency II compliance and, in the interim, managing risk and capital effectively.
Cat Bond Update: First Quarter 2009: A strong first quarter has demonstrated that catastrophe bonds are still important tools for risk managers, treasurers, and CFOs. After five months of silence since the last issuance in mid-August 2008, three bonds closed in the first quarter of 2009 bringing USD575 million in fresh capital and confirmation that these instruments are still attractive investments, despite the ongoing the global financial catastrophe.*
Most Popular Keyword: catastrophe bonds
And, you may have missed …
Cedent Experience Varies at 4/1 in Korea: Property-catastrophe reinsurance rates stretched from -10 percent to 7.5 percent at the April 1, 2009 renewal in the Republic of Korea. Fire cover was stable year-over-year, though, and excess of loss (XOL) pricing tended to be flat.
Read the article >>
Click here to have GC Capital Ideas headlines delivered directly to your inbox.
* 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.