October 2nd, 2017

GC Capital Ideas Top Stories: September, 2017

Posted at 4:00 AM ET

1. Hurricane Irma: Hurricane Irma was a large and destructive storm that rendered impacts to most of the Southeast United States including the Florida Keys as well as areas of the Caribbean. Impacts for areas of the Northern Leeward Islands and the Virgin Islands, as well as northern Cuba have been especially severe. For the United States, the most severe impacts have been in the Florida Keys due to both wind and storm surge, with flood impacts as far away as coastal Georgia and northeast Florida. Wind impacts extend from Tennessee to the Carolinas to Florida. At least 67 fatalities have been reported.

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2. Hurricane Harvey: Following initial landfall, Hurricane Harvey continued to meander over southeast Texas while weakening to tropical storm status due to land interaction. Harvey then briefly emerged over the Gulf of Mexico before turning to the northeast and making a third landfall near Cameron, Louisiana, early Wednesday morning as a tropical storm. Harvey has since continued to move to the north-northeast and weakened further due to land interaction and dry air. The National Hurricane Center (NHC) downgraded Harvey from tropical storm to tropical depression status at 8 p.m. EDT on August 30, and discontinued tropical storm warnings at that time.

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3. Chart: Return On Equity for Guy Carpenter Reinsurance Composite, First Half, 2017: Chart presents return on equity for the Guy Carpenter Global Reinsurance Composite, 2006 through first half, 2017.

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4. New Vehicle Matches the Right Capital to Risk: A new Marsh & McLennan vehicle provides unparalleled support in accessing long-term capital markets-based protection; a broader and more diverse range of capital sources brings better matching, more efficient solutions customized to the unique risk profile of clients; and the vehicle provides a standardized documentation process and single point of access, in an efficient and cost-effective manner.

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5. Excess Capacity in This Year’s Florida Market: The Florida peninsula is the most important market for property reinsurance in the world. Each summer, the third most populous state in the union braces itself for another Atlantic hurricane season. In Florida’s esoteric insurance market, insurers buy reinsurance protection at the beginning of June each year.

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6. Public Sector Risk Financing Perspectives in the United States: The Market for Mortgage Credit Risk (Re)insurance: The global financial crisis of 2008 exposed the U.S. mortgage industry, taxpayers, and the global capital markets to the loss potential of residential mortgage credit risk.

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7. Chart: Source Of Earnings for Guy Carpenter Reinsurance Composite, First Half, 2017: Chart presents source of earnings for the Guy Carpenter Global Reinsurance Composite for first half 2017 compared to first half 2016.

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8. Industry Must Develop Common Cyber Risk Currency: Data integrity and availability is as critical as data confidentiality; limited ability to quantify dependency is a major cyber inhibitor; and the challenge is to build a clearly differentiated cyber portfolio.

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9. GC Securities and Marsh Captive Solutions Introduce Cerulean Re: GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, announced the establishment of Cerulean Re SAC Ltd. (Cerulean), a private syndicated collateralized reinsurance platform and Bermuda registered segregated account company (SAC) and licensed special purpose insurer.

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10. Run-off Specialists Are Gearing Up For Increased Flows: Challenging markets and active capital management are encouraging carriers to proactively consider reserve solutions; a competitive market for acquisition of run-off assets has broadened; and new entrants are forming in anticipation of increased flows of legacy business.

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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.

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