March 8th, 2019

Week’s Top Stories: March 2 - 8, 2019

Posted at 10:00 AM ET

Sidecars: Capitalizing on Market Cycles to Improve Client Solutions: Following U.S. hurricanes Katrina, Rita and Wilma in 2005 and the ensuing “hard” property catastrophe reinsurance market, reinsurers and investors increasingly started turning to sidecar insurance linked securities to access new and replacement capacity.

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Building for Resilience: How to Avoid a Catastrophe Model Failure: Since commercial catastrophe (CAT) models were first introduced in the 1980s, they have evolved as new scientific discoveries and claims insights emerged. Despite the sophisticated nature of each new generation of CAT models, occasionally a model misses a significant loss driver for a particular peril.

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Identifying and Responding to a Dysfunctional Culture: Loss of clients, mass employee walk-outs, shareholder lawsuits, stock price drops, hundreds of CEOs and executives turnovers, and countless daily instances of organizational inefficiencies - these are just some of the recent impacts of cultural dysfunction.

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Chart: Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2019.

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First Singapore Catastrophe Bond Sets Stage for ILS Expansion in Asia-Pacific: The first catastrophe bond has been issued out of Singapore. This highlights the potential of the insurance-linked securities (ILS) market in the region, and is aligned with the city-state’s efforts to establish itself as a global hub for Asian risk transfer. The bond is sponsored by Insurance Australia Group (IAG) as part of its 2019 catastrophe aggregate reinsurance cover, and represents the first such transaction by the company.

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And, you may have missed….

GC Securities* Acts as Sole Structurer and Placement Agent for First Cat Bond to Transfer Standalone Terrorism Risk to the ILS Market: GC Securities announced the placement of GBP 75,000,000 Series 2019 Principal At-Risk Variable Rate Notes issued through Baltic PCC Limited, a protected cell company domiciled in the United Kingdom, on behalf of Pool Re.

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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, 12 Endeavour Square, London, E20 1JN. 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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