February 10th, 2017

Week’s Top Stories: February 4 - 10, 2017

Posted at 7:30 AM ET

Evolving Risks Landscape: 2008-2017: Social and environmental risks have supplanted economic ones as issues of greatest concern among respondents to the Global Risks Perception Survey. The survey was completed by almost 750 members of the World Economic Forum’s global multistakeholder community and the results analyzed in the World Economic Forum 2017 Global Risks Report, which was published by the World Economic Forum with support from Marsh & McLennan Companies and other partners.

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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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Public Sector Risk Financing Perspectives - Sharing Visual Intelligence for Disaster Response: As governments and emergency responders focus on search and rescue in the hours and days following catastrophic events, the (re)insurance industry is autonomously responding with visual technologies for loss assessment.

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Expanding Range Of Capital Sources Offers Benefits: Pricing declines continued in the insurance-linked securities (ILS) segment of alternative capital. In turn, this has prompted questions about the sustainability of lower pricing and capacity post-catastrophe event, suggesting that traditional reinsurers’ models and the traditional reinsurance and alternative capital mix of capital sources still need to evolve. Maintaining premium rate adequacy and stable capacity requires better access to the expanding sources of capital and awareness of the benefits of better risk syndication and segmentation, according to David Priebe, Vice Chairman at Guy Carpenter and Cory Anger, Global Head of ILS Origination and Structuring at GC Securities.

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Increasing External Demands Compel Companies to Improve Risk Management Disclosures: Guy Carpenter released its latest Enterprise Risk Management (ERM) Benchmark Review earlier this year providing an in-depth analysis of risk management practices and policies of 67 insurance and reinsurance companies located in Europe, United States, Bermuda, and Asia-Pacific. Based on publicly-available data from financial and risk reports, Guy Carpenter’s ERM Benchmark Review reveals that most (re)insurers are managing capital with metric-based frameworks and are publishing more about their risk management targets than seen in Guy Carpenter’s 2009 analysis. Capital market, legislative, and regulatory influences, such as the approaching implementation of Solvency II, are expected to further compel company managements to better recognize and analyze the risks of their enterprises.

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And, You May Have Missed…

Southern U.S. Severe Thunderstorms: A severe thunderstorm outbreak has affected areas from Louisiana to Kentucky to Florida. Several tornadoes have been reported in Southeast Louisiana, Mississippi and Florida. This includes a probable EF-3 tornado affecting the East New Orleans area, according to media reports. Significant property damage has been reported for several areas, with especially severe impacts for the East New Orleans tornado. Downed trees and powerlines with light to moderate property damage have been reported for affected areas of the Florida Panhandle. At least 36 injuries and one fatality have been reported in the media. Rescue and damage survey operations are ongoing, and it is too early to ascertain the full scope and severity of this event.

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*Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities LLC, a US registered broker-dealer and member FINRA/NFA/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. (MMCSEL), which is authorized and regulated by the Financial Conduct Authority, main office 25 The North Colonnade, Canary Wharf, London E14 5HS. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities LLC, MMC Securities (Europe) Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies. 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. **GC Analytics is a registered mark with the U.S. Patent and Trademark Office.

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