Archive for June, 2017



June 30th, 2017

Week’s Top Stories: June 24 — 30, 2017

Posted at 6:30 AM ET

GC Securities* Supports First Ever World Bank Catastrophe Bonds and Catastrophe-linked Swaps to Combat Infectious Disease: GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, participated in pricing of bonds and catastrophe-linked swaps supporting pandemic risk. Part of an innovative new public-private partnership aimed at improving global resiliency and health security, the mechanism provides surge funding to developing countries facing a possible pandemic outbreak. GC Securities served as co-manager of the bonds and joint arranger of the swaps.

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North Atlantic Basin Tropical Storm Outlook for 2017: Normal to Above Average: As hurricane season begins in the North Atlantic Basin, several agencies have produced seasonal outlooks of 2017 tropical activity including the National Oceanic and Atmospheric Administration (NOAA), The Weather Company (TWC/IBM) and Dr. Phil Klotzbach of Colorado State University (CSU). These seasonal outlooks give a sense of overall expected activity for the basin at large but do not estimate the number of landfalls. These agencies stress the need for readiness for a landfalling hurricane, as with any hurricane season.

Read the article>>


Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: 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 (LAC) region; losses from Hurricane Matthew in the Caribbean are still being assessed.

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Guy Carpenter Launches GC Asia Pacific Retro: Guy Carpenter & Company launched GC Asia Pacific Retro, a new unit offering dedicated retrocession services to clients in the Asia Pacific region.

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Managing Catastrophe Model Uncertainty, Issues and Challenges: Here we repeat our series authored by John Major, which focuses on the issues and challenges in managing catastrophe model uncertainty.

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And, You May Have Missed…

Good Leaders Must Empower Others and Embrace Change, Says Former SAS Commander Butler: The lessons learned during a distinguished military career, during which the nature of the threat changed dramatically, can be applied to leading in the business world, Ed Butler, Head of Risk Analysis at Pool Re, told delegates gathered at the MMC Young Professionals’ Forum in London.

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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.

June 29th, 2017

Technology Innovation Shaping Decision Makers’ Expectations

Posted at 1:00 AM ET

Here we review recent GC Capital Ideas posts on how technology innovation is shaping (re)insurance decision makers’ expectations for the future.

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June 28th, 2017

Guy Carpenter Launches GC Asia Pacific Retro

Posted at 11:00 PM ET

Guy Carpenter & Company today launched GC Asia Pacific Retro, a new unit offering dedicated retrocession services to clients in the Asia Pacific region.

Continue reading…

June 28th, 2017

GC Securities* Supports First Ever World Bank Catastrophe Bonds and Catastrophe-linked Swaps to Combat Infectious Disease

Posted at 9:31 PM ET

GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, participated in today’s pricing of bonds and catastrophe-linked swaps supporting pandemic risk. Part of an innovative new public-private partnership aimed at improving global resiliency and health security, the mechanism provides surge funding to developing countries facing a possible pandemic outbreak. GC Securities served as co-manager of the bonds and joint arranger of the swaps. Data from the World Health Organization (WHO) was used by AIR Worldwide to provide expert risk modeling.

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June 28th, 2017

North Atlantic Basin Tropical Storm Outlook for 2017: Normal to Above Average: Part II: Factors Influencing 2017 Forecasts

Posted at 1:00 AM ET

El Niño Southern Oscillation

The El Niño Southern Oscillation (ENSO) is a phenomenon of shifting sea-surface temperatures (SSTs) in the Tropical East Pacific. The warm phase, or “El Niño,” is related to elevated wind shear in the Tropical Atlantic Basin, which disrupts tropical cyclone formation, usually with a reduction in hurricane counts for the Atlantic Basin. The cool phase, or “La Niña,” is related to elevated hurricane counts in the Atlantic Basin due to reduced wind shear.

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June 27th, 2017

North Atlantic Basin Tropical Storm Outlook for 2017: Normal to Above Average: Part I

Posted at 1:00 AM ET

As hurricane season begins in the North Atlantic Basin, several agencies have produced seasonal outlooks of 2017 tropical activity including the National Oceanic and Atmospheric Administration (NOAA), The Weather Company (TWC/IBM) and Dr. Phil Klotzbach of Colorado State University (CSU) (1). These seasonal outlooks give a sense of overall expected activity for the basin at large but do not estimate the number of landfalls. These agencies stress the need for readiness for a landfalling hurricane, as with any hurricane season.

Continue reading…

June 26th, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part V: Microinsurance Helping Close Insurance Gap

Posted at 1:00 AM ET

aidan-pope-headshot-sm26Aidan Pope, Managing Director

Contact

Not to be outdone, the private sector has demonstrated its commitment to bringing insurance solutions to emerging economies through the industry consortium and venture incubator Blue Marble Microinsurance. Blue Marble’s founding consortium has committed to launching ten microinsurance ventures in the next ten years to deliver risk management solutions to the underserved. Through collaboration with strategic partners, including government and quasi-government entities and innovative technology-enabled platforms, Blue Marble seeks to improve sustainability by expanding the role of insurance in society. These ventures will consider unique distribution methods, local partnerships, product development and impact services.

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June 23rd, 2017

Week’s Top Stories: June 17 — 23, 2017

Posted at 1:00 AM ET

Insurers Must Digitalize to Meet Buyers’ Needs, Says Greenberg: The financial services industry - including insurance - will undergo massive change thanks to digitalization, Evan Greenberg, Chairman and CEO of Chubb Limited told MMC’s Young Professionals’ Global Forum.

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Industry Must Act to Avoid a “Kodak Moment:” In his first speech as Lloyd’s new chairman, Bruce Carnegie-Brown said the insurance industry must do more to change and innovate or run the risk of being disrupted by external players.

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Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: 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 (LAC) region; losses from Hurricane Matthew in the Caribbean are still being assessed.

Read the article>>


Guy Carpenter Sees Market Shift Towards Core Model Strategy: Insurers and reinsurers are increasingly adopting a core model strategy based around a detailed assessment of its capabilities, instead of the multi-model or blended approach as investment in modeling capabilities comes under pressure, says Matthew Eagle, Head of GC Analytics® - International at Guy Carpenter.

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Analytics: Fueling Risk-Informed Decisions: Today’s rapidly changing global environment presents insurers with many challenges and opportunities as capital management and risk transfer techniques evolve at an unprecedented pace. Stakeholders, regulators and ratings agencies are deepening their focus on risk management practices, and revolutionary developments in technology, including the Internet of Things and hyper-connectivity, are driving companies to adapt to the challenges that senior management faces to support risk management decisions

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And, You May Have Missed…

Industry Must Bend the Risk Curve to Deliver Value, Says John Doyle: John Doyle, President of Marsh LLC, called upon delegates at the MMC Young Professionals’ Global Forum to take advantage of the multiple opportunities in the current environment which he called the “Age of the Client.”

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June 22nd, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part IV

Posted at 1:00 AM ET

aidan-pope-headshot-sm25Aidan Pope, Managing Director

Contact

Mexico’s risk management strategy has earned a strong reputation in the international community. The World Bank said it is “at the vanguard of initiatives aimed at the development of an integrated disaster risk management framework, including the effective use of risk financing and insurance mechanisms to manage the fiscal risk derived from disasters,” highlighting it as an example for other governments to follow (1).

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June 21st, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part III: A Lesson in Resilience from Mexico

Posted at 1:00 AM ET

aidan-pope-headshot-sm24Aidan Pope, Managing Director

Contact

The Mexican federal government’s risk management strategy exemplifies a modern, resilient disaster preparedness plan, including pre- and post-event approaches and public-private partnerships. Following the 1985 Mexico City earthquake, the Mexican National Civil Protection System (SINAPROC) was created, establishing a multi-level system to integrate stakeholders from the three levels of government, the private and social sectors, academia and scientific organizations. Its purpose was to provide an institutional framework for the improved coordination of emergency response. Its capacities in the areas of risk assessment, early warning, preparedness and disaster risk financing were developed. As SINAPROC evolved, it added risk reduction practices to shift from a reactive to a preventative, holistic and integrated risk management plan.

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