November 2nd, 2015

GC Capital Ideas Top Stories: October, 2015

Posted at 1:00 AM ET

1. Fifth Annual Insurance Risk Benchmarks Report from Guy Carpenter: Guy Carpenter & Company announced the release of the 2015 Insurance Risk Benchmarks Report titled, Risk and Opportunity In the year of ORSA: Annual Statistical Review. The report is produced annually through Guy Carpenter’s ongoing Insurance Risk Benchmarks research project, which focuses robust analytics on risk and performance in the U.S. property/casualty (P&C) insurance industry.

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2. Regulatory Challenges and Opportunities for (Re)insurers: (Re)insurers are being challenged as the regulatory environment becomes more complex, with regulation increasing considerably at multiple levels in numerous jurisdictions throughout the world. Insurers are facing new costs and pressures in their efforts to manage the regulatory landscape.

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3. Chart: Global Property Catastrophe ROL Index 1990 to 2015: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2015.

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4. Microinsurance Consortium and Venture Incubator Announces New Name: The Microinsurance Consortium, led by a group of leading companies in the insurance industry, announced a new name for their microinsurance venture incubator (MVI) - Blue Marble Microinsurance. The consortium consists of American International Group, Inc., Aspen Insurance Holdings Limited, Guy Carpenter & Company, LLC together with Marsh & McLennan Companies, Inc., Hamilton Insurance Group, Ltd., Old Mutual plc, Transatlantic Reinsurance Company, XL Catlin, and Zurich Insurance Group.

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5. Reinsurance Mergers and Acquisitions Deja-vu, Buyers Beware: Since 2014, there have been four mergers and acquisitions (M&As) within the reinsurance space that are pure consolidations rather than transactions by an acquirer from outside the sector. To date, we estimate that this consolidation wave has affected some USD 11 billion of net premium income and 5 percent of the global reinsurance market. However, that is short of the USD 16 billion and 13 percent, respectively, for the mid-1990s. There is nothing unusual about M&A. It is a cyclical phenomenon and very much in tune with the broader financial market environment.

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6. Guy Carpenter Examines Shifting Public Sector Risk Landscape: Guy Carpenter announced the release of its Public Sector Risk Report, Partnerships: The Way to Public Sector Risk Financing, which examines the shifting economic and risk landscapes that are driving public sector entities to consider new approaches to risk financing.

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7. Cyber Risk: Cyber risk is one of the most pressing and public topics that industry is grappling with and is being addressed as a strategic priority in corporate boardrooms and by governments around the world. As the global economy becomes increasingly dependent on e-commerce and cloud computing, the susceptibility to cyber risk increases exponentially.

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8. A Clearer View of Emerging Risks: Executive Summary: Technological progress is accelerating at a rapid pace and with it are the risks and opportunities that accompany those changes in many different segments of our economy.

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9. Businesses and Their Exposures: As referenced in the table Taxonomy of Cyber Risk for Corporations below, the potential losses deriving from cyber-attacks or non-malicious information technology failures fall into 11 categories illustrated in the second table Loss Categories Deriving From Cyber Attacks and Non-Malicious IT Failures.

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10. Baden-Baden Reinsurance Symposium Turns Spotlight on Recent Market Consolidation: Guy Carpenter & Company once again hosted the Reinsurance Symposium in Baden-Baden on October 18. Focusing on the theme of “Consolidation: Who Wins in the Race for Scale?”, leading industry figures shared their views on the recent merger & acquisition activity in the insurance and reinsurance arena, commenting on its impact on market dynamics, the key drivers for consolidation and what factors will contribute to success in the push for scale.

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