Archive for May, 2013



May 31st, 2013

Week’s Top Stories: May 25 - 31, 2013

Posted at 8:00 AM ET

Guy Carpenter’s Chief Economist on Opportunities for Profitable Growth: In honor of her being awarded Insurance Woman of the Year by the Association of Professional Insurance Women, we highlight Joan Lamm-Tennant’s recent article that appeared on GC Capital Ideas. Joan is Guy Carpenter’s Chief Economist and Risk Strategist.

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2013 Reinsurance Renewals:  As we look toward the June 1 reinsurance renewal next week, here we review the key GC Capital Ideas stories that have covered the prior renewals this year.

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Guy Carpenter’s Aidan Pope Named Latin America Reinsurance Broking CEO of the Year: Guy Carpenter is pleased to announce that Aidan Pope has been named “Latin America Reinsurance Broking CEO of the Year” at the Reactions Latin America Awards 2013. Mr. Pope is CEO of Latin America and Caribbean (LAC) Operations for Guy Carpenter and is also on the firm’s Board of Managers.

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Guy Carpenter Asia-Pacific Climate Impact Centre Publishes Fourth Annual Report on Climate Issues: The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter and City University of Hong Kong, today released its fourth annual report presenting the findings of the GCACIC’s research activities from the past year. The report details the findings of 22 projects conducted by the GCACIC, which focus on climate problems in the Asia-Pacific region as well as on a global scale.

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Chart: 2013 144A Catastrophe Bond Issuance:  Details on each transaction completed during 2013 year to date are presented.

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And, you may have missed…..

Chart: Risk Capital Outstanding: Total risk capital outstanding increased during the first quarter of 2013, reaching an all-time high water mark of USD15.0 billion - up from USD14.83 billion at year-end 2012, representing a net increase of 1.13 percent (USD168 million).

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* Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities Corp., a US registered broker-dealer and member FINRA/SIPC. Main Office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Securities or investments, as applicable, are offered in the European Union by GC Securities, a division of MMC Securities (Europe) Ltd., which is authorized and regulated by the Financial Services Authority. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities Corp., MMC Securities (Europe) Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies, Inc. This communication is not intended as an offer to sell or a solicitation of any offer to buy any security, financial instrument, reinsurance or insurance product.

May 30th, 2013

2013 Reinsurance Renewals

Posted at 1:00 AM ET

As we look toward the June 1 reinsurance renewal next week, here we review the key GC Capital Ideas stories that have covered the prior renewals this year. 

Continue reading…

May 29th, 2013

Guy Carpenter’s Aidan Pope Named Latin America Reinsurance Broking CEO of the Year

Posted at 1:00 AM ET

pope_aidan_thumbGuy Carpenter is pleased to announce that Aidan Pope has been named “Latin America Reinsurance Broking CEO of the Year” at the Reactions Latin America Awards 2013. Mr. Pope is CEO of Latin America and Caribbean (LAC) Operations for Guy Carpenter and is also on the firm’s Board of Managers.

Continue reading…

May 28th, 2013

Guy Carpenter’s Chief Economist on Opportunities for Profitable Growth

Posted at 1:00 AM ET

lamm-tennant_joan_bioIn honor of her being awarded Insurance Woman of the Year by the Association of Professional Insurance Women, we highlight Joan Lamm-Tennant’s recent article that appeared on GC Capital Ideas. Joan is Guy Carpenter’s Chief Economist and Risk Strategist. 

Continue reading…

May 27th, 2013

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, for example, LinkedIn. 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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May 24th, 2013

Week’s Top Stories: May 20 - 24, 2013

Posted at 8:14 AM ET

Guy Carpenter Asia-Pacific Climate Impact Centre Publishes Fourth Annual Report on Climate Issues:  The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter and City University of Hong Kong, today released its fourth annual report presenting the findings of the GCACIC’s research activities from the past year. The report details the findings of 22 projects conducted by the GCACIC, which focus on climate problems in the Asia-Pacific region as well as on a global scale.

Read the article >>

 

Chart: Risk Capital Outstanding: Total risk capital outstanding increased during the first quarter of 2013, reaching an all-time high water mark of USD15.0 billion - up from USD14.83 billion at year-end 2012, representing a net increase of 1.13 percent (USD168 million).

Read the article >>

 

GC Securities* Completes Catastrophe Bond Long Point Re III Ltd. Series 2013-1 Notes for Travelers: GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/SIPC, today announced the placement of the Series 2013-1 Notes, with notional principal of $300,000,000, through an existing catastrophe bond shelf program, Long Point Re III Ltd., to benefit Travelers. This is the second time that Travelers has accessed indemnity-triggered, fully collateralized reinsurance protection from the catastrophe bond market.

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U.S. Severe Weather Outbreak: Severe weather hit the central United States over the last several days, spawning several tornadoes, large hail and damaging straight-line winds. The town of Moore, Oklahoma experienced the worst of the outbreak.

Read the article >>

 

April 1 Renewals See Reinsurance Pricing Stabilize Amid Dynamic Capital Growth: Guy Carpenter reports that dynamic capital growth and ample reinsurance capacity resulted in a relatively stable renewal at April 1, 2013. In a briefing released today, Guy Carpenter comments that the convergence of traditional and alternative capital sources is changing the marketplace, with non-traditional capacity now making up an estimated 14 percent of global property catastrophe limit.

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And, you may have missed…..

GC Securities*: First Quarter Cat Bond Activity Signals Robust Issuance Ahead: GC Securities released an analysis of first quarter activity and trends within the catastrophe risk market for 2013. Two natural peril-exposed catastrophe bond transactions closed during the first quarter of 2013, for a total of USD520 million of issuance. This seemingly low level of primary issuance activity is deceiving, however, as activity in the capital markets and the influence of “non-traditional” capacity - a term that is rapidly approaching obsolescence - has never been higher.

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* Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities Corp., a US registered broker-dealer and member FINRA/SIPC. Main Office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Securities or investments, as applicable, are offered in the European Union by GC Securities, a division of MMC Securities (Europe) Ltd., which is authorized and regulated by the Financial Services Authority. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities Corp., MMC Securities (Europe) Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies, Inc. This communication is not intended as an offer to sell or a solicitation of any offer to buy any security, financial instrument, reinsurance or insurance product.

May 24th, 2013

GC Securities* Completes Catastrophe Bond Blue Danube II Ltd. Series 2013-1 Notes for Allianz

Posted at 2:00 AM ET

GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/SIPC, today announced the placement of the Series 2013-1 Notes, with notional principal of $175,000,000, through a newly formed catastrophe bond shelf program, Blue Danube II Ltd., to benefit Allianz. This is the second time that Allianz has accessed PCS-MITT triggered cat bond protection and the eighth overall cat bond issuance benefitting Allianz since 2007.

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May 23rd, 2013

Chart: 2013 144A Catastrophe Bond Issuance

Posted at 1:00 AM ET

Details on each transaction completed during 2013 year to date are presented.

Continue reading…

May 22nd, 2013

U.S. Severe Weather Outbreak

Posted at 6:06 PM ET

moore-smallSevere weather hit the central United States over the last several days, spawning several tornadoes, large hail and damaging straight-line winds. The town of Moore, Oklahoma experienced the worst of the outbreak. A rare EF5 tornado, the most powerful ranking on the Enhanced Fujita Scale, obliterated scores of buildings and killed at least 24 people, 9 of them children. The tornado was reported to be 1.3 miles wide and spent 40 minutes on the ground, leaving a 17 mile trail of destruction. According to AIR Worldwide, the estimated value at risk from the EF5 is between USD2 billion and USD6 billion. Oklahoma’s Insurance Commissioner, John Doak, stated that insured losses could exceed the cost of the 2011 Joplin tornado, which was nearly USD3 billion.

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May 22nd, 2013

Chart: Risk Capital Outstanding

Posted at 1:00 AM ET

Total risk capital outstanding increased during the first quarter of 2013, reaching an all-time high water mark of USD15.0 billion - up from USD14.83 billion at year-end 2012, representing a net increase of 1.13 percent (USD168 million).

Continue reading…