Guy Carpenter Addresses Insurer Strategies for Profitable Growth At Monte Carlo Rendez-Vous 2011: In its fourth annual press briefing held at the Reinsurance Rendez-Vous 2011 in Monte Carlo, Guy Carpenter & Company, the leading global risk and reinsurance specialist, identified and explored insurers’ opportunities for growth in today’s uncertain (re)insurance market.
Uncertain Market Ahead for Reinsurance Industry, Finds Guy Carpenter’s 2011 World Catastrophe Report: A number of developments in 2011 have created an uncertain market for the reinsurance industry as it begins to focus on next year’s renewals, according to “2011 World Catastrophe Reinsurance Market Report,” released by Guy Carpenter & Company. These developments range from elevated global catastrophe activity to catastrophe model changes that have altered risk perceptions and changed expected loss amounts.
A Multi-Model Approach to Catastrophe Risk Assessment: Catastrophe models are very useful in assessing risk exposure, and it is no surprise that they have become essential tools for any insurer underwriting catastrophe loss coverage. But in recent years, they have evolved from useful supplemental tools to forces in their own right. Today, model revisions can become disruptive events affecting large segments of the industry - as we have seen over the past year with major changes to models by RMS and AIR.
Update: Tropical Storm Maria: Tropical Storm Maria is currently located approximately 435 miles (705 kilometers) east-southeast of the Leeward Islands, according to the National Hurricane Center (NHC). The storm has weakened slightly over the last 24 hours and currently packs sustained winds of around 40 mph (65 kmph), equivalent to a tropical storm. Maria is moving towards the west-northwest and this general motion is expected to continue during the next 24 to 36 hours.
Reserving Cycle Analysis Suggests Tightening Ahead: In recent years there has been a steady stream of reserve releases from insurers, which helped support financial results in the face of a weakening market and significant catastrophe losses. Heading into 2012, Guy Carpenter’s analysis of the reserving cycle suggests that the tide may be turning, and we may be heading into a period of reserve shortfalls.
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