June 1st, 2012

Week’s Top Stories: May 26 - June 1, 2012

Posted at 10:30 AM ET

6.0Mw Earthquake in Northern Italy: A strong 6.0Mw earthquake hit northern Italy at 02:03 UTC on May 20, causing severe shaking in the Emilia Romagna region and surrounding areas. Damage has been reported across Emilia Romagna, particularly to historic buildings, commercial properties and agriculture in towns and cities close to the earthquake’s epicenter. According to the U.S. Geological Survey (USGS), the epicenter was within 10 kilometers (6 miles) of the towns of Camposanto, San Felice sul Panaro, Finale Emilia and Crevalcore, and it was also centered a shallow 5.1 kilometers (3.2 miles) underground. Shaking was felt in the nearby city of Bologna and as far away as Milan and Venice, but no major damage was reported there.

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Capitalizing on Growth Opportunities in Emerging Markets: As (re)insurers are challenged to deliver healthy, accretive returns in maturing and increasingly competitive markets, emerging markets present growth opportunities that may not be found in the United States or Europe. Regulatory challenges, tightening reserve levels and capital requirements, coupled with volatile global economies and a low interest rate environment, are forcing companies to seek non-traditional or emerging growth strategies.

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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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Top Modeling Stories in GC Capital Ideas: First Half 2012: Here we highlight the top stories on modeling that have appeared in GC Capital Ideas in the first six months of 2012.

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Chart: Guy Carpenter Global Reinsurance Composite, Return on Equity, Q1 2012

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And, you may have missed…

Eurozone - Reinsurance Contract Issues: The implications of the many possible outcomes of the current “Eurozone Crisis” are profound and unpredictable and in some cases, unprecedented. The implications are also wide-ranging, embracing political, economic and legal dimensions. Such complexity gives rise to different, not to say contradictory, interpretations and predictions. However, we can only be certain that actual events, when they happen, will follow their own unique trajectory.

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