April 20th, 2012

Week’s Top Stories: April 14 - 20, 2012

Posted at 10:30 AM ET

April 1, 2012, Reinsurance Renewals: Australia, New Zealand: Following the significant natural catastrophe losses that impacted the Australian and New Zealand markets during the 12-month period prior to April 1, 2011, the corresponding period to April 1, 2012, did not witness the same frequency or severity of (re)insured losses.

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April 1, 2012, Reinsurance Renewals: U.S. Property Catastrophe: With regional renewals dominating Guy Carpenter’s renewal activity at April 1, 2012, there was a wide range of risk adjusted price change with the average in line with January 1 renewals. The renewal has been late and data is still being analyzed, however, similar to the January renewals, results depended significantly on individual company characteristics.

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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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Severe Weather in United States: More severe weather hit the United States on April 14 and 15, spawning dozens of tornadoes that killed at least five people and caused widespread property damage, according to reports. The National Weather Service (NWS) reported a preliminary estimate of 111 tornadoes in the six states of Oklahoma, Kansas, Iowa, Nebraska, South Dakota and Minnesota, the majority of them in Kansas.

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What to Watch in 2012, Part I: 2012 will undoubtedly be a challenging year, but Guy Carpenter believes that growth opportunities exist - or can be created - for companies that have the fortitude to see and develop them. Below we examine 10 major themes that the (re)insurance sector will face in 2012.

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And, you may have missed…

Guy Carpenter Expands Asia Flood Modeling Capabilities: Guy Carpenter & Company announced that it has extended the coverage of its Asia flood model to include the main flood risk areas in Jakarta, Indonesia.

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