January 20th, 2017

Week’s Top Stories: January 14 - 20, 2017

Posted at 7:30 AM ET

Chart: Top Ten Significant Insured Loss Events: 2016: The table lists the latest estimates for the top ten significant insured loss events for 2016.

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Further Considerations on the Hurricane “Shield” Theory: A recent New York Times article titled “Conditions That Form More Hurricanes Also Protect U.S., Study Finds” notes a hurricane “shield” for the U.S. coast during busy hurricane seasons. The article, based on recent research by James Kossin, provides valuable insight, including some notes of caution from other experts in the field, but the observations should be treated with a moment of pause.

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Guy Carpenter Reports Moderating Reinsurance Pricing Decline at January 1, 2017 Renewals: Guy Carpenter & Company reports the decline in reinsurance pricing moderated at the January 1, 2017 renewal across most classes of business and geographies, as compared to the past three renewal seasons.  Several sectors experienced increased loss activity, which had only a localized impact on pricing while capacity remained plentiful. After remaining fairly stable in 2015, dedicated reinsurance capital increased by 5 percent from January 1, 2016 to January 1, 2017 as calculated by Guy Carpenter and A.M. Best. The convergence capital segment increased by 10 percent.

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Global Risks Report 2017: The Global Risks Report 2017, produced by the World Economic Forum with support from Marsh & McLennan Companies and other partners, was published. Now in its twelfth edition, the report provides insights into the key global risks facing businesses as well as the collective view of risk experts in all sectors as to the most significant threats to global prosperity over the next decade. The Global Risks Report 2017 will inform discussions at the World Economic Forum’s annual meeting in Davos, Switzerland.

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Public Sector Risk Financing Perspectives in Latin America: Globally, three of the ten most costly natural disaster events in the last 35 years occurred in total or in part in the Latin America/Caribbean region. As the region’s population, urbanization and gross domestic product concentration continues to grow, the effects of climate volatility are likely to further increase the impact of natural perils losses on economies that are already struggling. We are just now assessing the losses from Hurricane Matthew in the Caribbean. The ultimate costs of these catastrophe event responses causes a strain on public balance sheets and an increase in public debt, ultimately burdening taxpayers.

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And, You May Have Missed…

Chart: Return On Premiums For Guy Carpenter Reinsurance Composite, Q3, 2016: Chart presents return on premiums for the Guy Carpenter Global Reinsurance Composite, 2005 through third quarter, 2016.

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