- Guy Carpenter Reports on Kumamoto Earthquake, Seismic Risk and Earthquake Cover in Japan
- Guy Carpenter Cites El Niño and North Atlantic Oscillation as Key Climate Drivers in 2015
- GC Securities* Report Shows Moderated Catastrophe Bond Activity, Mixed Pricing Levels at Year-End 2015
Industry Moves Away From Multi-Model Approach Given Current Market Conditions
Insurers and reinsurers are increasingly adopting a core model strategy based around a detailed assessment of its capabilities, instead of the multi-model or blended approach as investment in modeling capabilities comes under pressure, says Matthew Eagle, Head of GC Analytics® - International at Guy Carpenter.
Mark Weatherhead, Head of Model Development - International
2016 marks the 60th year of the Monte Carlo Rendez-Vous. Since the first event in 1957 the insurance world has changed significantly, with economic and insured losses from natural catastrophes such as floods and hurricanes increasing dramatically.
Recent Shift in Terrorist Focus to Economic Upheaval Requires Expanded Business Interruption Cover
In the wake of recent terror-related attacks, the insurance industry must expand its role of supporting the financial resilience of economies. This includes further clarifying the industry’s position alongside government-sponsored terrorism pools, according to Emma Karhan, Managing Director, Guy Carpenter. Continue reading…
(Re)Insurers Modifying Their Behavior Ahead Of A.M. Best’s New Ratings And BCAR Criteria - GC@MC Commentary
Industry Accelerates Risk Profile Analytics and Development of Their Own Risk Tolerances and Stochastic Capital Modeling
The launch of A.M. Best’s (Best) new ratings and Stochastic-based Best’s Capital Adequacy Ratio (BCAR) draft criteria became an inflection point for (re)insurers worldwide. The 2016 changes represent Best’s first major overhaul in over 20 years and are leading to a growing number of changes in market behaviors across the company size spectrum. (Re)insurers are assessing their risk and capital management positions in anticipation of the impacts of Best’s new requirements even though the changes will not result in massive differences in its published ratings nor likely become effective until later in 2017, according to Eric Simpson, Managing Director and Mark Murray, Senior Vice President of Guy Carpenter.
Eric Paire, Head of Global Partners & Strategic Advisory, EMEA
Movement Within Capital Ratios Leading to Uncertainty Amongst Mid-Size Companies
The impact of the Solvency II capital ratio on composite life and property/casualty balance sheets is proving more substantial than some companies initially expected, according to Eric Paire, Head of Global Partners & Strategic Advisory, EMEA at Guy Carpenter. This development is due to the double impact of market volatility and volatility within the solvency ratio itself.
Industry Must More Effectively Harness Potential of Satellite, Drone and Aerial Technologies
Advances in the development of ”visual intelligence” based on multiple data sources including satellite imagery and drone footage have the potential to significantly enhance claims and CAT response processes and underwriting decision making when companies harness that potential effectively, according to Dr. Beverley Adams, Head of CPR (Catastrophe Planning & Response) at Guy Carpenter.
Victoria Carter, Vice Chairman, International Operations
Industry Must Adapt and Innovate to Fully Grasp Opportunities
A series of fundamental disruptive forces are driving monumental changes in the global economy at an unprecedented rate. These forces compel the (re)insurance industry to adjust to the new reality and capitalize on the opportunities created, according to Victoria Carter, Vice Chairman of International Operations at Guy Carpenter.