Archive for the ‘Casualty’ Category



July 1st, 2015

GC Capital Ideas Top Stories: June, 2015

Posted at 1:00 AM ET

1. June 1, 2015 Renewals Show Rate of Price Declines Moderating: Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), reports that after two years of  price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June renewals.

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2. Chart: Global Property Catastrophe ROL Index 1990 to 2015: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2015.

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3. Guy Carpenter Launches CAT Risk Studio to Enhance Catastrophe Risk Analysis Capabilities: Guy Carpenter launched CAT Risk Studio (CRS), a new division that will support Guy Carpenter’s Model Suitability Analysis (MSA)® initiative and will work closely with GC Securities* on the development of parametric products for catastrophe risk transfer. CRS establishes Guy Carpenter’s presence at the Marsh & McLennan Innovation Centre in Dublin, Ireland.

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4. Microinsurance Consortium and Venture Incubator Announces New Name: The Microinsurance Consortium, led by a group of leading companies in the insurance industry, announced a new name for their microinsurance venture incubator (MVI) - Blue Marble Microinsurance. The consortium consists of American International Group, Inc., Aspen Insurance Holdings Limited, Guy Carpenter & Company, LLC together with Marsh & McLennan Companies, Inc., Hamilton Insurance Group, Ltd., Old Mutual plc, Transatlantic Reinsurance Company, XL Catlin, and Zurich Insurance Group.

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5. Chart: Significant Insured Losses - 2011 to YE 2014: Reports losses by quarter.

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6. Evolving Role of Reinsurance in Public Sector Risk: Here we review the evolving role of reinsurance in mitigating public sector risk through the expanding deployment of reinsurance and capital market solutions.

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7. Guy Carpenter Launches the Financial Institutions and Cyber Components of the GC ForCas℠ Casualty Catastrophe Modeling Platform: Guy Carpenter announced the launch of the Financial Institutions and Cyber components of the GC ForCas℠ casualty catastrophe modeling platform. GC ForCas is a stochastic modeling platform developed to help insurance carriers better understand their exposure to casualty catastrophe losses resulting from the accumulation of U.S. Commercial Lines insurance policies.  

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8. Cyber-attacks: Mounting Concerns: Here we review recent GC Capital Ideas stories on mounting concerns over cyber-attacks.

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9. Risk Profile, Appetite, and Tolerance: Fundamental Concepts in Risk Management and Reinsurance Effectiveness: Prior to the recent turbulence in the financial markets, insurers and reinsurers were increasing their use of enterprise risk management (ERM) to make risk and capital management decisions. While this was driven in part by rating agencies and regulators, many carriers began to recognize the value of metric-based frameworks and capital models in evaluating their portfolios.

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10. Cat Bond Update: Q1 2015 - Issuance Reaches Historic Volume: GC Securities’* briefing, “Catastrophe Bond Update: First Quarter 2015″ is now available.

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*Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities Corp., 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 Corp., 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 30th, 2015

Guy Carpenter Names Tim Gardner CEO of U.S. Operations

Posted at 10:45 PM ET

Guy Carpenter today announced the appointment of Tim Gardner as CEO of U.S. Operations effective August 1, 2015. Mr. Gardner will be a member of the Guy Carpenter Board of Managers and he will be based in New York.

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June 17th, 2015

Cyber-attacks: Mounting Concerns

Posted at 1:00 AM ET

Here we review recent GC Capital Ideas stories on mounting concerns over cyber-attacks.

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June 8th, 2015

Guy Carpenter Launches the Financial Institutions and Cyber Components of the GC ForCas℠ Casualty Catastrophe Modeling Platform

Posted at 5:00 AM ET

Guy Carpenter today announced the launch of the Financial Institutions and Cyber components of the GC ForCas℠ casualty catastrophe modeling platform. GC ForCas is a stochastic modeling platform developed to help insurance carriers better understand their exposure to casualty catastrophe losses resulting from the accumulation of U.S. Commercial Lines insurance policies.

Continue reading…

June 1st, 2015

GC Capital Ideas Top Stories: May, 2015

Posted at 1:00 AM ET

1. Chart: Global Property Catastrophe ROL Index 1990 to 2015: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2015.

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2. Impact of Insurance Market Cycles on Insurers’ Reserves: Here we review GC Capital Ideas stories on the impact of insurance market cycles on insurers’ reserves.

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3. Reinsurance Versus Subordinate Debt: Which is Best for Solvency Capital?: Here we review how a holistic approach to managing solvency capital requirements can benefit insurers’ bottom line.

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4. Emerging Risk Challenges And Opportunities: A cursory reading of just a few of the publications on the topic of emerging risks quickly resembles a crash-course in risk aversion therapy. We have been subjected to a bewildering and ever lengthening series of lists of emerging risks. Swiss Re recently identified 26 such risks, Hannover Re has an ongoing list of 14 while the World Economic Forum in its Global Risks 2014 lists 31 global risks.

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5. Risk Profile, Appetite, and Tolerance: Fundamental Concepts in Risk Management and Reinsurance Effectiveness: Prior to the recent turbulence in the financial markets, insurers and reinsurers were increasing their use of enterprise risk management (ERM) to make risk and capital management decisions. While this was driven in part by rating agencies and regulators, many carriers began to recognize the value of metric-based frameworks and capital models in evaluating their portfolios.

Read the article>> 

 

6. 7.8Mw Earthquake - Lamjung, Nepal: Nepal experienced a magnitude 7.8 earthquake on April 25, followed by two major aftershocks on April 25 and 26 of magnitude 6.6 and 6.7, respectively, according to the U.S. Geological Survey (USGS). Media reports indicate at least 5,582 fatalities, 11,200 injuries, and at least eight million people affected. Infrastructure and transportation routes have been severely disrupted and food and water shortages are of great concern. The USGS PAGER service estimates most probable economic losses between USD1 and USD10 billion. It is clear from media reports that impacts have been widespread and of excessive severity and our first thoughts and concerns are with the millions affected by this tragic event.

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7. New Solutions Help Mutual Insurers Face Market Challenges: Mutual insurance companies of all sizes currently face challenging market conditions where success requires not only focused distribution and operational excellence, but also access to increasingly sophisticated analytics services and products. How these firms use their resources and advanced technology to respond to these issues will separate market outperformers from underperformers.

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8. Guy Carpenter Appoints Former New York State Superintendent of Insurance James Wrynn as Vice Chairman of US Strategic Advisory: Guy Carpenter announced the appointment of former New York State Superintendent of Insurance James J. Wrynn as Vice Chairman of US Strategic Advisory and a Managing Director.

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9. Approach of Atlantic Hurricane Season: As we approach the beginning of the 2015 Atlantic Hurricane Season, we review CAT-i stories covering the major storms from 2014.

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10. Chart: Combined Ratio For Guy Carpenter Composite, YE 2014: Chart presents combined ratio for the Guy Carpenter Global Reinsurance Composite, 2004 through year end 2014.

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May 26th, 2015

Benchmarks for Enterprise Risk Management Disclosures

Posted at 1:00 AM ET

Here we present GC Capital Ideas’ stories on analyses of enterprise risk management disclosures. A 2014 study updated the analysis done in 2009, one of our most popular stories. The full briefings are attached.

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May 19th, 2015

Emerging Risk Challenges And Opportunities

Posted at 1:00 AM ET

A cursory reading of just a few of the publications on the topic of emerging risks quickly resembles a crash-course in risk aversion therapy. We have been subjected to a bewildering and ever lengthening series of lists of emerging risks. Swiss Re recently identified 26 such risks (1), Hannover Re has an ongoing list of 14 while the World Economic Forum in its Global Risks 2014 (2) lists 31 global risks (3).

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May 18th, 2015

GC Capital Ideas Videocasts

Posted at 1:00 AM ET

A key feature of GC Capital Ideas is its Videocast series. Here we review recent video posts: 

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May 14th, 2015

Affordable Care Act: Health Insurers Addressing the Need to Develop New Strategies

Posted at 1:00 AM ET

barker-smallPhillip Barker, Senior Vice President

Contact

It has been a little over four years since the enactment and subsequent implementation of the Patient Protection and Affordable Care Act, more widely known as the ACA. The impact on the insurance industry as a whole has been tremendous, but it has not been shared equally among the industry subsectors. While the property/casualty (P&C) industry was not exactly spared, receiving a comparatively “light touch,” the ACA has been a catalyst helping create a transformational bridge between the P&C and the health insurance industries.

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May 13th, 2015

Guy Carpenter Appoints Garrick Smith as US Sales Leader for the Excess & Surplus Lines Specialty Practice

Posted at 4:30 AM ET

Guy Carpenter today announced the appointment of Garrick L. Smith as Managing Director and US Sales Leader for the firm’s Excess & Surplus Lines Specialty Practice. Mr. Smith is reporting to William M. Allen, Executive Vice President and Chairman of the Practice.

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