Archive for August, 2012



August 31st, 2012

Update: Tropical Depression Isaac

Posted at 2:51 PM ET

isaac6-smallTropical depression Isaac was downgraded from tropical storm status as of the 5PM EDT advisory Thursday. Isaac was and still is a large feature. Isaac trailed feeder bands as far as 750 miles (1,200 km) east of New Orleans, causing 5 inches of rain as far away as Charleston, South Carolina. Tropical storm force winds spanned at least 400 miles during the storm. Central pressure during landfall was about 968 mb, consistent with some category-3 hurricanes.

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August 31st, 2012

Week’s Top Stories: August 25 - 31, 2012

Posted at 11:00 AM ET

Strategic Growth and International Expansion a Priority for Lloyd’s, According to Guy Carpenter Report: A new report on the Lloyd’s insurance market published by Guy Carpenter finds that Lloyd’s is looking to improve its global competitiveness despite mounting challenges including low investment returns, record catastrophe losses, subdued economic growth in developed markets and uncertainty over the future of the Eurozone. Lloyd’s: A Vision for Targeted Growth provides an analysis of Lloyd’s operational performance, growth within the sector and explores how changes to the Market’s strategy will impact key players within the insurance industry.

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Update: Tropical Storm Isaac: Tropical Storm Isaac now carries maximum sustained winds of 40 mph. It continues its slow drift, now to the north-northwest. Storm surge, inland flooding, and inland tornadoes remain as ongoing hazards with Isaac.

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July 1 Reinsurance Renewals Reveal Plentiful Capacity amid Benign Catastrophe Activity, According to Guy Carpenter: Reinsurance renewals took place against a backdrop of plentiful capacity at July 1, 2012. Capital has continued to strengthen through the second quarter of 2012, moderating pricing pressures, according to a briefing released by Guy Carpenter.

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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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Recent Posts from Alex Moczarski, CEO of Guy Carpenter and Chairman, Marsh & McLennan Companies International: Here we review recent GC Capital Ideas posts by Alex Moczarski, Chief Executive Officer of Guy Carpenter and Chairman, Marsh & McLennan Companies International.

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And, you may have missed…..

Chart: Long-term Evolution of Shareholders’ Funds: Chart presents the long-term evolution of shareholders’ funds for the Guy Carpenter Global Reinsurance Composite.

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August 31st, 2012

Lloyd’s Priorities for 2012 – 2014

Posted at 1:00 AM ET

Matthew Day, Senior Vice President
Contact

For the near-term, Lloyd’s announced its most recent three-year strategic plan (2012-2014) in December 2011, laying out its key priorities for 2012 and beyond. The implementation of Solvency II is one of its top priorities. Lloyd’s plans to continue to lobby the Financial Services Authority (FSA) to ensure Solvency II and other planned European regulations are appropriate for Lloyd’s and to fully understand the impact they will have on Lloyd’s international licenses. Despite the continued uncertainty over implementation dates for Solvency II, Lloyd’s will issue guidance on suggested practice and ensure that managing agents and syndicates meet its requirements.

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August 30th, 2012

Update: Tropical Storm Isaac

Posted at 6:35 PM ET

isaac4smallTropical Storm Isaac now carries maximum sustained winds of 40 mph. It continues its slow drift, now to the north-northwest. Storm surge, inland flooding, and inland tornadoes remain as ongoing hazards with Isaac.

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August 30th, 2012

Lloyd’s: History and Vision

Posted at 1:00 AM ET

Matthew Day, Senior Vice President
Contact

Lloyd’s - A Short History

Since it was founded in 1688, Lloyd’s has played a key role within the global (re)insurance sector. The initial focus was to offer shipping and cargo insurance coverage to London merchants traveling around the globe from its original base at Edward Lloyd’s Coffee House.

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August 29th, 2012

Update: Hurricane Isaac

Posted at 1:49 PM ET

isaac-3-smallHurricane Isaac made a second landfall near the mouth of the Mississippi River, at Port Fourchon, Louisiana early this morning, exactly seven years following the landfall of Katrina. The storm center is presently about 45 miles Southwest of New Orleans. Isaac is a large and slow-moving storm, with potential hazards as far away as east Texas and west Florida. Hurricane conditions can be expected to continue for warned areas into this afternoon.

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August 29th, 2012

Guy Carpenter on Lloyd’s: A Vision for Targeted Growth, Executive Summary

Posted at 1:00 AM ET

Guy Carpenter is publishing its Lloyd’s of London report, Lloyd’s: A Vision for Targeted Growth, at a pivotal and exciting point in the Market’s evolution. Throughout its nearly 325 years of existence, Lloyd’s has endured many challenges to evolve into the
dynamic marketplace it has become today. Lloyd’s not only enjoys a solid brand and is a preferred market for many insurers around the globe, but its financial strength can be a key differentiator for future growth. In the current environment, Lloyd’s - as the rest of the (re)insurance sector - faces the prospect of subdued growth in established markets. As Lloyd’s looks to the future and aims to expand its platform to better service international clients, it has developed a new strategy that will address slower economic growth in developed markets, uncertainty over the future of the Eurozone and low investment returns.

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August 28th, 2012

Update: Tropical Storm Isaac

Posted at 3:00 PM ET

isaac-2-smallTropical Storm Isaac continues to intensify as it continues its slow trek through the Northern Gulf. Isaac threatens the Northern Gulf seven years following the landfall of Hurricane Katrina, and marking what will be the first U.S. landfalling hurricane in the area since 2008.

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August 27th, 2012

Strategic Growth and International Expansion a Priority for Lloyd’s, According to Guy Carpenter Report

Posted at 11:00 PM ET

A new report on the Lloyd’s insurance market published today by Guy Carpenter & Company finds that Lloyd’s is looking to improve its global competitiveness despite mounting challenges including low investment returns, record catastrophe losses, subdued economic growth in developed markets and uncertainty over the future of the Eurozone. Lloyd’s: A Vision for Targeted Growth provides an analysis of Lloyd’s operational performance, growth within the sector and explores how changes to the Market’s strategy will impact key players within the insurance industry.

Continue reading…

August 27th, 2012

GC Capital Tip: Share Your Favorite Articles

Posted at 1:00 AM ET

Did you find a story on GC Capital Ideas to be particularly useful? Let your colleagues know. “Social bookmarking” has become popular, with internet users flagging the articles they find most helpful. You can “socially bookmark” articles on GC Capital Ideas in a few simple steps. At the bottom of every article, you’ll see a button that says, “Share.” Click it, and look for your preferred social bookmarking website, such as LinkedIn or Technorati. If you aren’t registered with one of these sites, you’ll be prompted to do so (which doesn’t take long). Then, just log in, and label your favorite articles from GC Capital Ideas.

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