March 2nd, 2012

Week’s Top Stories: February 25 - March 2, 2012

Posted at 10:30 AM ET

2011 Catastrophe Losses and Reinsurance Capital: Index to Stories

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Risk Profile, Appetite, and Tolerance: Fundamental Concepts in Risk Management and Reinsurance Effectiveness:  Prior to the recent turbulence in the financial markets, insurers and reinsurers were increasing their use of enterprise risk management to make risk and capital management decisions. While this was driven in part by rating agencies and regulators, many carriers began to recognize the value of metric-based frameworks and capital models in evaluating their portfolios.

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Insurers See Growth in Program Administrators and Managing General Agents Marketplace in 2012, According to Guy Carpenter Survey: Specialty program insurance providers predict that the Program Administrators and Managing General Agents (PA/MGA) market will grow in 2012 as a result of changes taking place in program business, according to a survey conducted by Guy Carpenter. In its annual study of the PA/MGA marketplace, Guy Carpenter surveyed both traditional insurance companies with specialty program operations and specialty insurance carriers about their program business and the direction of the PA/MGA marketplace.

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Guy Carpenter’s January 2012, Reinsurance Renewal Report: Executive Summary: The (re)insurance sector experienced historic catastrophe losses in 2011, many in areas not previously considered ‘peak’ risks. Devastating earthquakes in Japan and New Zealand, floods in Thailand and Australia and a record-breaking tornado season in the United States contributed to insured losses in excess of USD100 billion. As carriers continue to penetrate new growth regions, ‘cold spot’ losses are expected to increase.

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Chart: Guy Carpenter Global Property Catastrophe Rate on Line Index: Chart presents historical pricing activity through July 1, 2011.

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Global Influence of Solvency II Remains High Despite Uncertainty of Its Implementation: Despite several years of discussion and preparation, Solvency II continues to evolve in Europe and influence other regulatory regimes globally. The implementation date for Solvency II is a moving target. The current view is that Solvency II will be delayed another year and become effective January 1, 2014.

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