Our first thoughts and concerns are with those lost or recovering from the exceptionally severe impacts of Super Typhoon Haiyan. Haiyan is among the strongest tropical cyclones ever recorded, and meets or surpasses the strongest landfalling tropical cyclone in recorded history. Haiyan made landfall in the Philippines on November 8 near Guiuan, with estimated 1-minute wind speeds of 185-195 mph (300-315 km/hr). A second landfall occurred on November 10 as a minimal Typhoon near the Vietnam-China border.
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Total Asia Pacific catastrophe limit purchased in 2013 increased for the tenth year in a row, but once again failed to keep pace with strong gross domestic product growth in the region, according to a new report released today by Guy Carpenter.
New Geographic Markets to Drive Profitable Growth in 2014, According to Second Annual Guy Carpenter Survey
Expansion into new geographic markets, new products and access to new distribution channels will be the primary drivers of profitable growth in 2014, according to a new survey released today by Guy Carpenter & Company. Continue reading…
Guy Carpenter published a new report highlighting emerging risks facing the (re)insurance sector, including cyber risk, climate change and space risk. The report seeks to identify pressing emerging risks confronting the sector, as well as analyze their implications on businesses and (re)insurers.
Guy Carpenter released its mid-year market report, highlighting a time of dynamic capital growth in the reinsurance industry. As investors supply capacity through a convergence of alternative and traditional vehicles, the report details the ways in which this new supply of capital and excess capacity has changed the nature of the sector’s capital structure.
In its sixth annual press briefing held at the Reinsurance Rendez-Vous 2013 in Monte Carlo, Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and member of Marsh & McLennan Companies (NYSE: MMC), considered the impact of new capacity on current market conditions and explored where the opportunities exist for profitable growth in such an environment.
Guy Carpenter & Company released today an analysis of the evolving risk landscape spurred by global warming. Climate change, global warming and the resulting landscape shift for risk management is a growing area of concern among governments, the general public, the private sector and the (re)insurance industry at large. According to the report, global warming is an established scientific fact that cannot be explained by natural variability alone.
Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and member of Marsh & McLennan Companies (NYSE: MMC), reports that reinsurance market rates on line (ROLs) continued to be driven by an influx of capital from third-party investors at the July 1 renewals, in spite of catastrophe losses reaching approximately USD20 billion during the first six months of 2013 (above the ten-year average for the period). In a briefing released today, Guy Carpenter comments that robust catastrophe bond, sidecar and collateralized reinsurance activity throughout the year has for the first time pushed pricing in the capital markets to “decouple” or breakaway from levels set by the traditional market. This has in turn prompted downward pressure on overall traditional market pricing.
Guy Carpenter & Company today released the findings of its eighth annual Specialty Insurance Program Issuing Carrier Survey. The survey, which analyzes trends and benchmarks movement in the Program Administrator and Managing General Agency (PA/MGA) market, reveals that the PA/MGA market continues to thrive and is well-positioned for growth in the year ahead.