Archive for the ‘Month in Review’ Category



July 2nd, 2018

GC Capital Ideas Top Stories: June 2018

Posted at 1:00 AM ET

1. Guide to Cyber Coverage Options: Cyber Risk Management: Response and Recovery, the new report from Marsh & McLennan’s Global Risk Center and WomenCorporateDirectors, includes a Guide to Cyber Coverage Options.

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2. Chart: Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2018.

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3. Standalone Terrorism Insurance Remains Competitive: Unlike coverage under the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which is normally made available within annual “all-risk” property policies, a standalone property terrorism insurance policy does not require the government to certify an act of terrorism in order for a claim to be paid.

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4. Volcanic Eruptions: A Complex and Largely Overlooked Risk: Volcanic eruptions are complex phenomena that may affect populations and economies in ways we may not be familiar with.

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5. GC Securities Acts as Sole Structurer and Bookrunner on the First Ever Cat Bond Issued Under the New UK Risk Transformation Legislation: GC Securities announced the placement of USD 300,000,000 Series 2018 Principal At-Risk Variable Rate Notes through a newly formed insurance special purpose vehicle domiciled in the United Kingdom, Atlas Capital UK 2018 PLC, to benefit SCOR.

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6. Threat Trends on Major Cyber Attacks in 2017: The Marsh & McLennan Companies Cyber Risk Handbook 2018 is published.

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7. Better Quantifying Cyber Exposure Will Help Determine Risk Finance Needs: As evidenced by the millions of dollars potentially at stake in a cyber event, financing to help an organization recover from a cyber-attack is more important than ever, with serving insurance a key part of the equation.

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8. A Heightened Focus on Cyber Response and Recovery: Over a third of directors of U.S. public companies now discuss cybersecurity at every board meeting. Cyber risks are being driven onto the agenda by high-profile data breaches, distributed denial of services (DDoS) attacks and rising ransomware and cyber extortion attacks.

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9. Guy Carpenter Extends Capital Markets Expertise with Hire of President and Global Leader, GC Securities, Capital Markets: Guy Carpenter named Shiv Kumar as President and Global Leader of GC Securities, Capital Markets. Mr. Kumar was previously Global Head of Insurance Structured Finance at Goldman, Sachs & Co. His 23 years of experience in the (re)insurance sector and capital markets will enhance GC Securities’ ability to identify and execute convergence capital solutions that help clients manage risk.

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10. Directors Risk Survey Report 2018: Guy Carpenter sister company Marsh has introduced its annual Director Risk Survey Report, done in conjunction with the Institute of Directors. The results reflect changes in the evolving local and global risk landscapes - with cyber, IT, talent attraction and retention and the loss of a key person just some of the risks highlighted.

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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.

June 5th, 2018

GC Capital Ideas Top Stories: May 2018

Posted at 1:00 AM ET

1. Chart: Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on line (ROL) index is presented for 1990 through 2018.

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2. Guy Carpenter Licenses First-of-its-Kind Cyber Risk Modeling Platform From CyberCube Following Strategic Alliance: Guy Carpenter & Company today announced that its two year strategic relationship with CyberCube Analytics, formerly part of Symantec Corporation, has produced the industry’s first cyber risk modeling platform with an inside-out view of cyber risk exposure.

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3. The 2017 Hurricane Season Was Among the Top-Ten-Most-Active, But Was Not Entirely Unprecedented: As the 2018 hurricane season approaches, we take a look back at the 2017 season. It was among the top-ten most-active seasons in recorded history since 1900 for the North Atlantic Basin.

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4. Terrorism Risk Modeling Poses Challenges: Terrorism risk modeling methods have been continually updated since leading modeling companies AIR Worldwide and Risk Management Solutions released their first terrorism models in 2002.

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5. 2018 North Atlantic Hurricane Season: Seasonal outlook providers continue to issue early predictions for the 2018 North Atlantic hurricane season.

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6. Guy Carpenter Bermuda Promotes Jenni Rowntree Estis to Head of Operations: Guy Carpenter today announced that Bermudian Jenni Rowntree Estis has been promoted to the role of Head of Operations, Senior Vice President, Broking.

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7. 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.

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8. United States Reinsurance Capacity for Terrorism: In 2017, according to Guy Carpenter, the combined property and workers compensation private conventional-only terrorism reinsurance capacity was estimated to be USD 2.5 billion per cedent program. Reinsurance capacity for coverage that includes Nuclear, Biological, Chemical and Radiological, especially in Tier 1 cities and central business districts, has become increasingly challenging to secure over the past two years due to the accumulated aggregate constraints of some markets and is estimated to range between USD 500 million and USD 1 billion per program.

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9. Internet of Things: Building Cyber Resilience in a Connected World: The Internet of Things (IoT) is driving huge advances in organizational efficiency, reinventing the customer experience and spurring business innovation and opportunities. But the explosion of IoT devices is also dramatically changing the cyber risk landscape, creating new product vulnerabilities and system exposures for organizations that make or deploy them.

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10. Wearables, Drones and the Internet of Things: The Next Wave of Workplace Safety and Claims Mitigation: The advent of connected devices and the Internet of Things (IoT) is opening exciting new doors in the insurance industry. The auto liability market has transformed from one in which underwriting relied on proxy variables such as driving history, demographics and credit scores to one in which telematics and real-time, personalized driving statistics inform risk assessment.

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May 1st, 2018

GC Capital Ideas: Top Stories, April 2018

Posted at 1:00 AM ET

1. Chart: Combined Ratio for Guy Carpenter Reinsurance Composite, Year-End 2017: Chart presents combined ratio of the Guy Carpenter Global Reinsurance Composite, 2005 through year-end 2017.

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2. Chart: Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2018.

View the chart >>


3. 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.

Read the article >>


4. Reinsurance Market Assessment: What The Numbers Reveal About the Current Industry Status; After several years of light catastrophe activity, particularly in the United States where capital deployment covering catastrophe exposures was heavily impacted by convergence capital, the events of 2017 provided a framework to evaluate how evolving market dynamics over the last few years held up to the real test of losses.

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5. 2018 Terrorism Risk Insurance Report; Although the number of incidents and casualties declined in 2017, terrorism remains a persistent and significant threat to businesses, governments and individuals.

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6. Large-Scale Cyber-Attacks on the Financial System; Cyber-attacks on financial institutions are becoming more frequent, complex, and sophisticated, with potential for far-reaching, systemic impacts.

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7. Guy Carpenter Reports Capital Growth and Market Resilience Despite 2017 Losses; Guy Carpenter has released an estimate of year-end reinsurance capital levels and results of the January 2018 reinsurance renewal.

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8. Chart: Return on Premiums for Guy Carpenter Reinsurance Composite, Year-end 2017; Chart presents return on premiums for the Guy Carpenter Global Reinsurance Composite, 2005 through year-end 2017.

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9. Cyber Insurance Adoption is Increasing; The role of insurance in enhancing cyber resilience is increasingly being recognized by policymakers around the world, and the Organisation of Economic Co-operation and Development is recommending actions to stimulate cyber insurance adoption.

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10. Chart: Catastrophe Bond Issuance and Capital Outstanding; Chart shows 144A P&C catastrophe issuance and capital outstanding for the years 1998 through year-end 2017 based on data from GC Securities’* proprietary database.

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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.

April 3rd, 2018

GC Capital Ideas: Top Stories, March 2018

Posted at 1:00 AM ET

1. Chart: Global Property Catastrophe ROL index; The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index presented for 1990 through 2018.

View the chart >>


2. Chart: Catastrophe Bond Issuance and Capital Outstanding; Chart shows 144A P&C catastrophe issuance and capital outstanding for the years 1998 through year-end 2017 based on data from GC Securities’* proprietary database.

View the chart >>


3. Chart: The Matrix of Cyber and Property Lines Insurance Coverage; Chart examines the policy coverage matrix between cyber and property lines of insurance coverage.

View the chart >>


4. Automobile Liability Market Update & Loss Trends Analysis; For most U.S. property and casualty insurance companies, automobile liability line performance has typically been one of the major factors adversely impacting overall profitability in recent years.

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5. Guy Carpenter Reports Capital Growth and Market Resilience Despite 2017 Losses; Guy Carpenter has released an estimate of year-end reinsurance capital levels and results of the January 2018 reinsurance renewal.

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6. Takaful and the Opportunity for Peer-to-Peer Insurance; There has been much talk about peer-to-peer (P2P) insurance, and a number of startups in this space are emerging globally and in Asia.

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7. Cyber Risk in an Interconnected World; In a digital world, cyber exposure evolves every day, making it one of the most dynamic emerging risks in the industry. Just as the housing boom along the US shoreline accelerated property losses, the technological sophistication and digital connectivity of the global economy have increased the cyber threat for all sectors.

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8. Reinsurance Market Assessment: What the Numbers Reveal about the Current Industry Status; After several years of light catastrophe activity, particularly in the United States where capital deployment covering catastrophe exposures was heavily impacted by convergence capital, the events of 2017 provided a framework to evaluate how evolving market dynamics over the last few years held up to the real test of losses.

Read the article >>


9. Exposure to New Risks; Some emerging technologies are exposing organizations to new risks, but few practitioners report a significant impact. Over half of survey respondents report that artificial intelligence is impacting risk exposure at their organizations, although only 14 percent indicate the effect is significant.

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10.Formal Risk Appetite Missing; A formal risk appetite statement is missing at a majority of companies, although that could be changing.

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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.

March 5th, 2018

GC Capital Ideas Top Stories: February, 2018

Posted at 1:00 AM ET

1.Chart: Global Property Catastrophe ROL Index; The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2018.

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2. Chart: Top Ten Significant Insured Loss Events: 2017; The table lists estimates for the top ten significant insured loss events for 2017.

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3. Guy Carpenter Reports Capital Growth and Market Resilience Despite 2017 Losses; Guy Carpenter has released an estimate of year-end reinsurance capital levels and results of the January 2018 reinsurance renewal.

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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.

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5. From Risk to Resilience: Marsh & McLennan Companies Cyber Handbook 2018: Perspectives on the Next Wave of Cyber; Cyber risk continues to grow as technology innovation increases and societal dependence on information technology expands.

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6. Exploring the Excess & Surplus Industry: E&S Market Update and Projections; The excess and surplus (E&S) lines segment of the insurance industry continues to be the essential market for risks for which  the standard insurance market typically does not offer coverage.

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7. Association of Financial Professionals/Marsh & McLennan Risk Survey Report: 2018; Finance and treasury professionals are looking to adopt technologies such as artificial intelligence, blockchain and robotic process automation, but few are prepared for the new business risks that may be associated with these technologies - especially cyber, business operations and regulatory risks.

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8. Guy Carpenter Global Reinsurance Composite: Third Quarter 2017; Here we bring together recent Chart Room posts highlighting performance of the Guy Carpenter Global Reinsurance Composite.

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9. Cyber Risk: The Stakes Have Changed for the C-Suite; Three major cyber events in 2017 set new precedents for the scope of damage wrought by cyber-attacks.

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10. Marsh & McLennan Companies Climate Resilience Handbook, 2018; Marsh & McLennan Companies has developed a comprehensive framework to help organizations think through all aspects of climate resilience.

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February 5th, 2018

GC Capital Ideas Top Stories: January, 2018

Posted at 2:00 AM ET

1 .Guy Carpenter Reports Capital Growth and Market Resilience Despite 2017 Losses; Guy Carpenter has released an estimate of year-end reinsurance capital levels and results of the January 2018 reinsurance renewal.

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2. Chart: Return on Equity for Guy Carpenter Reinsurance Composite, Q3, 2017; Chart presents return on equity for the Guy Carpenter Global Reinsurance Composite, 2005 through third quarter, 2017.

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3. 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.

Read the article >>


4. Threat Trends on Major Cyber Attacks in 2017; The Marsh & McLennan Companies Cyber Risk Handbook 2018 is published.

Read the article >>


5. Exploring the Excess & Surplus Industry: E&S Market Update and Projections; The excess and surplus (E&S) lines segment of the insurance industry continues to be the essential market for risks for which  the standard insurance market typically does not offer coverage.

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6. 2017 North Atlantic Hurricane Season; The 2017 North Atlantic Hurricane season was one of the most active seasons on record, a historic season in many respects, and certainly an impactful one. Those most severely affected residents are facing a long and difficult recovery that could last for years. They continue to have our thoughts and concerns.

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7. Guy Carpenter Reports Moderating Reinsurance Pricing Decline at January 1, 2017 Renewals; Guy Carpenter & Company reports the decline in reinsurance pricing moderated at the January 1, 2017 renewal across most classes of business and geographies, as compared to the past three renewal seasons.

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8. The Impact of Insurtech; Here we review recent GC Capital Ideas posts on the growing interest in insurtech and its impact on the insurance industry.

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9. Industry Must Develop Common Cyber Risk Currency; Diversification is essential for evolving the cyber insurance market, yet expanding the cyber remit beyond data confidentiality and further into areas such as operational technology risk, data availability and integrity demands a common cyber risk currency, according to Morley Speed, Managing Director, and Carolyn Morley, Chairman, Global Casualty, Guy Carpenter.

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10. Guy Carpenter Global Reinsurance Composite: Third Quarter 2017: Here we bring together recent Chart Room posts highlighting performance of the Guy Carpenter Global Reinsurance Composite.

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January 2nd, 2018

GC Capital Ideas Top Stories: December, 2017

Posted at 1:00 AM ET

1. Flood Insurance: The 2018 Market Opportunity; The U.S. insurance industry is actively seeking new opportunities for growth in a challenging market by identifying untapped customer needs. The potential flood market is over five times the size of the most often mentioned new market, cyber insurance.

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2. 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.

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3. Run-off specialists are gearing up for increased flows; Transaction volumes in the run-off market will continue to grow as a consequence of an influx of capital and increased amounts of buyers and sellers of legacy reserves, according to Andrew Beecroft, Head of M&A Advisory, GC Securities*.

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4. Exploring the P&C Industry: Recent Market Dynamics and Industry Performance; The property and casualty (P&C) insurance industry continues to face economic and market-based challenges. New risks demand coverage; catastrophes are surfacing in unexpected ways and experience shifts are driving casualty lines’ capital needs.

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5. Addressing Flood Peril; Here we review recent GC Capital Ideas posts on Guy Carpenter’s efforts to address the flood peril.

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6. Little-Used Retirement Option Gets a Big Boost; With the erosion of defined benefit pension plans and uncertainty around the future of Social Security, the current workforce must find new ways to responsibly manage their income into and through retirement.

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7. Critical Tool for Making Strategic Enterprise Risk Management Decisions; There are indications that new A.M. Best Stochastic Based BCAR factor assignments may require more capital for companies entering a new line of business than for established writers growing in that line.

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8. 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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9. Managing Catastrophe Model Uncertainty, Issues and Challenges; Here we repeat our popular series authored by John Major, which focuses on the issues and challenges in managing catastrophe model uncertainty.

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10. Reinsurance Solutions Continue to Achieve Stability and Growth for Cedents; Since its beginnings, the reinsurance product has been a tool that delivers diversified balance sheet solutions to insurers to help protect capital, manage earnings, reduce volatility and promote profitable growth, according to James Nash, President, International, Guy Carpenter.

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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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December 4th, 2017

GC Capital Ideas Top Stories: November, 2017

Posted at 1:00 AM ET

1. 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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2. 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.

Read the article>>


3. From Risk to Resilience: Marsh & McLennan Companies Cyber Handbook 2018: Perspectives on the Next Wave of Cyber; Cyber risk continues to grow as technology innovation increases and societal dependence on information technology expands. A new and important turning point has been reached in the struggle to manage this complex risk. In the war between cyber attackers and cyber defenders, we have reached what Winston Churchill might call “the end of the beginning.”

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4. Understanding Systemic Cyber Risk; Insights Through Pandemic Behavior; Today, through air travel, a carrier of MERS or Ebola can cross the ocean in less than a day, board a crowded subway train and potentially infect hundreds of people. Containment of a pandemic outbreak begins upon discovery, similar to the way in which forensics and network restoration efforts can begin once a cyber breach is identified. According to Platt, the longer the lag until discovery, the more difficult containment and treatment will be, whether it is a biological or cyber event.

Read the article>>


5. Asia Pacific Catastrophe Report 2017: Executive Summary: Losses; Insured losses in Australia and New Zealand were the largest events. The region was also impacted by floods in China, India and Thailand and an earthquake in China. Once again, flood was a major contributor to economic losses in the region, but often in areas where insurance penetration was limited. Flood is difficult for (re)insurers to model, but Guy Carpenter has made significant steps to help clients deal with the problems.

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6. Insurers Challenged by Forces of Technology Disruption; Here we review recent GC Capital Ideas posts on the need for the insurance industry to come to terms with the forces of technological disruption challenging their business models.

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7. Threat Trends on Major Cyber Attacks in 2017; The Marsh & McLennan Companies Cyber Risk Handbook 2018 is published.

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8. Study Identifies Winners in Growing Insurtech Space; A 2017 report from consulting firm Oliver Wyman and insurtech investor Policen Direkt analyzes insurtech business models worldwide and pinpoints winners and losers.

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9. Insurers Adapting in a Time of Disruption; Here we review recent GC Capital Ideas posts on strategies insurers may utilize to continue to achieve growth in a disruptive environment.

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10. For MPL, Market Softening Continues in 2016-Signs of Pressure Emerge; Since 2010, the medical professional liability (MPL) industry has been navigating a soft market, with declining profitability, diminished investment gains and rising accident year operating ratios. Yet, reserve redundancies have kept calendar year combined ratios below 100 percent, allowing carriers to pay dividends to policyholders while maintaining favorable returns on equity.

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November 6th, 2017

GC Capital Ideas Top Stories: October, 2017

Posted at 4:00 AM ET

1. Reinsurance Market Poised to Remain Vibrant Following Recent Catastrophe Events: The recent series of catastrophic events - earthquakes in Mexico, Hurricanes Harvey, Irma and Maria - is reminding cedents that reinsurance is one of the most effective ways to protect corporate capital bases; Harvey on its own is likely to be an earnings event that will probably not require an increase of industry capital; the addition of the cumulative effect of the earthquakes in Mexico and Hurricanes Irma and Maria, however, could create a capital event;  and the earthquakes and hurricanes provide an opportunity to define the viability and effectiveness of the 144A product. We expect that these instruments will demonstrate their effectiveness and serve their intended purpose.

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2. Flood Insurance: The 2018 Market Opportunity: The U.S. insurance industry is actively seeking new opportunities for growth in a challenging market by identifying untapped customer needs. The potential flood market is over five times the size of the most often mentioned new market, cyber insurance; greater access to flood data and loss results and more reliable exposure modeling are enhancing the flood (re)insurance marketplace; and several developments are helping carriers understand and monitor aggregation.

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3. Industry Must Act to Avoid a “Kodak Moment”: In his first speech as Lloyd’s new chairman, Bruce Carnegie-Brown said the insurance industry must do more to change and innovate or run the risk of being disrupted by external players.

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4. Guy Carpenter Reports US Insurance Market at a Crossroads but Opportunity Exists: Guy Carpenter 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.

Read the article>>


5. California Wildfires - October 8-17, 2017: 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. Rates of extreme fire spread were enabled by especially dry conditions together with offshore gusty winds to burn a total of at least 217,566 acres since October 8. Media reports indicate at least 41 fatalities, making this the deadliest series of fires in California history. At least 5,700 structures have been destroyed and thousands more remain under threat. Containment efforts have made significant progress in the last week, thanks to efforts of at least 10,000 firefighters and reduced winds.

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6. 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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7. Chart: Combined Ratio for Guy Carpenter Reinsurance Composite, First Half, 2017: Chart presents combined ratio for the Guy Carpenter Global Reinsurance Composite, 2006 through first half, 2017.

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8. Just Say “Know” to Insurtech: As insurtech offerings proliferate, to gain the advantages promised, companies need to know the opportunities afforded; know their own strengths and capabilities for engagement; and know their clients’ needs and expectations; insurtech is the evolutionary next step for insurance through the combination of data, analytics and technology in new and innovative ways; and capturing information in real time through sensors or mobile devices is the newest process for the collection of data for analytics.

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9. Understanding Systemic Cyber Risk; Insights Through Pandemic Behavior: Today, through air travel, a carrier of MERS or Ebola can cross the ocean in less than a day, board a crowded subway train and potentially infect hundreds of people. Containment of a pandemic outbreak begins upon discovery, similar to the way in which forensics and network restoration efforts can begin once a cyber breach is identified. According to Platt, the longer the lag until discovery, the more difficult containment and treatment will be, whether it is a biological or cyber event.

Read the article>>


10. Guy Carpenter Appoints Claude Yoder to Lead Global Innovation and Product Development: Guy Carpenter & Company is pleased to announce the appointment of Claude Yoder as Managing Director and Global Chief Innovation and Product Development Officer.

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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.