December 10th, 2010

Week’s Top Stories: Dec 4 - Dec 10, 2010

Posted at 11:00 AM ET

Solvency II Update:  QIS5 Windstorm Scenarios Are Within Range of Industry Models: European insurers and reinsurers will face requirements for full compliance with the new Solvency II capital regime requirements in just over two years. Even if this introduction is phased in - as the European Commission has reportedly indicated it could be - these requirements will have a wide-ranging and profound impact on the insurance industry throughout Europe.

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Chart: Guy Carpenter Global Reinsurance Composite, Return on Equity, 9 Months 2010

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Guy Carpenter’s CasCat® Named “Insurance Initiative of the Year”:  Guy Carpenter & Company announced that its CasCat® model has been named “Insurance Initiative of the Year” at the Insurance Day 2010 London Market Awards. The annual awards, presented December 2 at London’s Grosvenor House Hotel, are selected by a distinguished panel of independent judges and recognize outstanding work in the London (re)insurance market.

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Chart: Catastrophe Bond Issuance, 3rd Quarter 2010:  Risk capital issued in the third quarter declined 56 percent from the third quarter of 2009. Last year, two transactions resulted in USD412 million in risk capital issued, while this year, only USD232 million of risk capital was issued, also through two transactions.

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2010 Market Update: Insight from Guy Carpenter’s Credit, Bond and Political Risk Team: Guy Carpenter & Company has released its fourth annual market update from its London-based Credit, Bond and Political Risk Team. Mid-year 2010 results for the leading credit insurers show strong improvements. All key insurers in the class have enacted core underwriting plans to turn around prior results. The general success in avoiding severity losses has made apparent the primary challenge in a downturn: Reducing and avoiding attritional losses. The surety sector continues to show significant growth potential, though reinsurers are concerned that the market has yet to experience the true extent of losses that will come out of the economic downturn.

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Most Popular Keyword:   Imelda Powers

And, you may have missed…

Uncover and Mitigate Product Liability Risk: Avert a Casualty Catastrophe: Casualty Cat, a new model developed jointly by Guy Carpenter and Arium, Ltd., seeks to identify the hidden product liability accumulations in a carrier’s portfolio and delivers the insights needed for informed action.

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