January 3rd, 2018

GC Capital Ideas Top Stories: Fourth Quarter, 2017

Posted at 1:00 AM ET

1. Guy Carpenter Reports US Insurance Market at a Crossroads but Opportunity Exists: Guy Carpenter today released a study outlining a dynamic insurance industry facing a changing economy and pressure in once-stable lines, but with opportunity for those with management skill and understanding of risk.

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2. Reinsurance Market Poised to Remain Vibrant Following Recent Catastrophe Events: While the reinsurance product has delivered compelling balance sheet solutions since its beginnings, recent catastrophic events in Mexico, the Caribbean and the United States have created a perfect opportunity for the market to showcase its ability to adapt solutions to the unique risk profiles of individual clients seeking to manage capital events, according to David Priebe, Vice Chairman, Guy Carpenter.

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3. Increasing External Demands Compel Companies to Improve Risk Management Disclosures; Guy Carpenter released an Enterprise Risk Management (ERM) Benchmark Review in 2014 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.

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4. 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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5. Chart: Combined Ratio for Guy Carpenter Reinsurance Composite, Q3, 2017: Chart presents combined ratio of the Guy Carpenter Reinsurance Composite, 2005 through third quarter, 2017.

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6. Flood Insurance: The 2018 Market Opportunity: Among all natural hazards, flood is the most costly and the most impactful on people. The Insurance Information Institute estimates that only 12 percent of homeowners purchase flood insurance, and most of the purchases are through the National Flood Insurance Program (NFIP). The gap in flood insurance protection represents up to a USD 40 billion potential new market for private insurers in the United States, according to Jonathan Hayes, Managing Director, Guy Carpenter.

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7. Asia Pacific Catastrophe Report 2017: Executive Summary: A year marked by generally benign loss experience and few large catastrophe events meant that rates continued to remain positive for buyers in the Asia Pacific region throughout 2017. At the same time, the trend for steady growth in limit purchased continued. Much of the new limit purchased tends to be at the top of programs, and this feeds through to lower overall average rates on line (ROL), which is also reflected in the indices.

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8. California Wildfires - October 8-17, 2017 - Update: Wildfire activity has rendered especially severe impacts to certain areas of California since October 8, including areas of Napa, Sonoma and Solano Counties. Wildfire activity has also rendered impacts to areas of Orange County east of the Los Angeles Metro area.

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9. Baden-Baden Reinsurance Symposium Addresses Industry-wide Impact of Disruption: Guy Carpenter & Company hosted the Reinsurance Symposium in Baden-Baden on October 22. The ninth year that Guy Carpenter has hosted the event, the theme of the Symposium was “Profiting from Disruption.”

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10. Just Say “Know” to Insurtech: Insurtech’s impact on the insurance industry is surging, reminding us of the influence that technological change and growth bring to the modern consumer and business landscapes and individual industries  -  the development of fintech within financial services being an example.

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