June 3rd, 2019

GC Capital Ideas Top Stories: May, 2019

Posted at 1:00 AM ET

1. Chart: Combined Ratio For Guy Carpenter Reinsurance Composite, Year-End 2018: Chart presents combined ratio of the Guy Carpenter Global Reinsurance Composite, 2005 through year-end 2018.

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2. A Risk Overview Of Wildfire: Today, the frequency and severity of wildfires are garnering greater attention - not only from the media, but also from (re)insurers, catastrophe modelers, mitigation experts and other invested parties.

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3. A Dynamic Approach To Managing Life Reinsurance Arrangements: The traditional life reinsurance model typically involves perpetual treaties linked to an underlying product. In order to create alignment between the contracting parties, the treaty would follow the underlying terms of the product. However, the treaty structure may concurrently include provisions that reduce alignment between the insurer and reinsurer, to the insurer’s detriment. This approach is often wrapped in the reinsurer’s “value proposition” - providing services to support the pricing, underwriting and claims management of the underlying product.

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4. Chart: Source Of Earnings For Guy Carpenter Reinsurance Composite, Year-End 2018: Chart presents source of earnings for the Guy Carpenter Global Reinsurance Composite, comparing year-end 2017 with year-end 2018.

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5. Finding The Elusive Cyber Loss Curve Can Pay Big Dividends For Financial Institutions: What is the likelihood that your organization will experience a material cyber event in the next 12 months? Is the risk greater than 50 percent? Less than 25 percent? These questions are ever-present on the minds of risk managers, who long for at least a practical - if not precise - answer.

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6. What Is The Future Of Alternatives To Traditional Insurance Markets? There’s been much discussion in risk finance circles over the past decade about alternatives to traditional insurance markets. Much of the focus has been on the provider side - the pension funds, sovereign wealth funds and other investors that provide the capital behind so-called alternative risk transfer (ART) solutions.

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7. Understanding Flood Risk In Malaysia Through Catastrophe Modeling: According to Malaysia’s Department of Irrigation and Drainage, the many rivers running through the country put about 9 percent of the total land area under flood risk, potentially affecting 2.7 million people. Rapid urbanization is only going to worsen the problem through rising population concentrations and at-risk infrastructure, land consumption and the channeling of water courses.

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8. Flood Risk Challenges In Asia: Flood is one of the most significant natural catastrophe perils, globally accounting for nearly 40 percent of all catastrophe events. In 2017, floods accounted for nearly half of the natural catastrophe events and 65 percent of natural catastrophe deaths in the world - two thirds of the deaths occurring in Asia.

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9. Affirmative Versus Silent Cyber: An Overview: While the current debate over “affirmative” versus  “non-affirmative” coverage has been ongoing for a few years, WannaCry and Petya/NotPetya cyberattacks helped make the issue of “silent cyber” more critical. These two 2017 cyberattacks effectively shifted the conversation from data breach, notification costs and third-party liability to first-party liability insuring agreements due to the extent and expanse of the systematic, large-scale damages they triggered.

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10. Methodological Considerations In The Statistical Modeling Of Catastrophe Bond Prices: John Major has authored an article that aims to help actuaries, financial analysts, statisticians, data scientists and their clients better investigate how property catastrophe risk, and particularly catastrophe bonds, are  priced.

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