February 27th, 2015

Week’s Top Stories: February 21 — 27, 2015

Posted at 8:00 AM ET

2014 Insured Losses Hit Lowest Level in Five Years: Guy Carpenter today released its annual Global Catastrophe Review, which reports that insured losses in 2014 were at the lowest level seen since 2009. According to the report, significant insured losses in 2014 totaled approximately USD33 billion, a dramatic drop when compared to the historic insured losses seen in 2011, which totaled approximately USD126 billion.

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Growth of Private Cat Bond Placements in 2014: In addition to 144A transactions, the fourth quarter was an active one for the private cat bond market (Regulation D, Regulation S and Rule (4(2)) securities offerings). The terms and conditions of such securities are typically confidential due to the private nature of the issuance, unless the sponsors or the placement agents publicize information about the transactions. As of December 31, 2014 approximately USD561.5 million of limit was transferred to the capital markets via 17 transactions. These figures represent a 210 percent increase in the notional amount of limit placed year-over-year, and a 183 percent increase in the number of transactions year-over-year.

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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 (ERM) 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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January 1, 2015 Renewals See Lower Pricing and Broader Coverage for Clients: Guy Carpenter reports reinsurance pricing fell at the January 1, 2015 renewals in many segments, affecting almost all lines of business and geographies, continuing recent renewal trends.

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Guy Carpenter Appoints Matthew Eagle as Head of International Analytics: Guy Carpenter today announced the appointment of Matthew Eagle as Managing Director and Head of International Analytics for Guy Carpenter.

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And, You May Have Missed…

GC Videocast - Overview of the Benefits of Holistic Balance Sheet Management: In this installment of the Holistic Balance Sheet Management series, Russell Lee, Insurance Consultant, Mercer, shares his thoughts on how a holistic approach to capital management can benefit insurance companies in the face of challenging investment and underwriting conditions.

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