Posts Tagged ‘Continental Europe’



September 13th, 2014

GC Videocast - Rendez-Vous Press Briefing 2014 (Nick Frankland) Centralization of the Reinsurance Buying Process in EMEA

Posted at 2:15 PM ET

2014-mc-nick-frankland-photoNick Frankland, CEO of EMEA operations, Guy Carpenter, reviewed developments in EMEA, where newer capital is yet to have a significant impact. He described the region as “a mature, stable market saturated with existing capacity and clients tending towards buying less reinsurance.” This approach to purchasing he said reflected the continuing centralization of the buying process. “Groups are taking a longer-term and more strategic rather than short-term tactical approach,” he stated. “This in turn has seen a smaller number of reinsurers selected as long-term strategic partners.” Opportunities for growth in such an environment however still remain, he said. “Future growth for a reinsurance broker demands a thoughtful, strategic, analytical and intellectual value offering above and beyond traditional structuring and placing.”

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September 3rd, 2014

Guy Carpenter Launches Probabilistic European Hail Model

Posted at 11:30 PM ET

Guy Carpenter launched its new leading-edge probabilistic hail model for Europe. The G-CAT® Hail Model features a unique approach to producing historic hail tracks using a lightning detection system developed for Guy Carpenter by atmospheric research firm nowcast GmbH. 

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August 25th, 2014

European Conference on Earthquake Engineering

Posted at 1:00 AM ET

The 15th European Conference on Earthquake Engineering will take place in Istanbul, Turkey, on August 24 - 29, 2014. This very important event is held every four years and brings together the most renowned experts on seismology, vulnerability, risk and structural and geotechnical engineering. The most recent advances in the field of hazard and risk assessment, loss estimation and seismic design will also be presented and discussed.

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July 9th, 2014

Guy Carpenter Appoints CEO Of Benelux Region

Posted at 11:15 PM ET

Guy Carpenter today announced the appointment of Roelant de Haas as CEO of the Benelux region, effective September 1. He succeeds Wim Raeymaekers who takes up the position of Chairman of the region and will be focused on developing clients and markets.

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June 18th, 2014

Recent CAT-i Reports On Storm Activity

Posted at 1:00 AM ET

Following a period of benign storm activity, weather patterns have shifted into a more active pattern producing heavy rains, high winds and substantial losses. Here are four CAT-i storm reports on volatile storm activity within the past six weeks.

Severe Weather Outbreak in U.S.: June 16, 2014: An especially volatile environment produced a violent severe weather outbreak yesterday affecting areas of Nebraska, Iowa and Wisconsin. Severe to complete property damage was reported in Pilger, Nebraska and surrounding areas. Initial evidence indicates two tornadoes in close proximity near Pilger, with EF-2 to EF-3 intensities.

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Severe Weather Outbreak In U.S.: June 3, 2014: A severe weather outbreak led to excessive wind gusts, significant hail, and a handful of tornadoes on June 3, according to reports. The area most severely affected covers the eastern two thirds of Nebraska together with portions of Iowa, Missouri, Kansas and Illinois.

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Balkans Floods: Heavy rain has caused widespread flooding across several countries in the Balkans region of Southeast Europe. Serbia, Bosnia and Herzegovina and Croatia were badly affected by the floods in May. According to Serbia’s Meteorological Institute, three months’ worth of rain fell in just three days in mid-May, resulting in the worst floods to hit the country since rainfall measurements began some 120 years ago. Bosnia also experienced its heaviest rainfall since records began in 1894, reports said.

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Severe Weather Outbreak in U.S.: April 26 to 30, 2014: A multi-day severe weather outbreak rendered severe impacts from April 26 to 30 affecting a large area of the United States. The outbreak is occurring along a powerful spring frontal system that evolved from the Southern Rockies and pressed towards the Southern Great Lakes and is now affecting the Atlantic Coast. According to the U.S. Storm Prediction Center (SPC), there are widespread reports of straight-line (nontornadic) wind and hail over the Southern States, Midwest and Lower Great Lakes. Tornado reports are widespread, with strong to violent tornadoes reported in states including Alabama, Arkansas, Kansas, Tennessee, Iowa and Mississippi. Severe flooding has also been reported in Alabama and Florida.

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June 4th, 2014

What is Food Security?

Posted at 1:00 AM ET

Here we review how the application of risk management practices and risk transfer can assist individual countries and small geographic locations with providing food security for the populace.

What is Food Security? Part I: Fundamentally food has to be safe, nutritious and available in sufficient quantity. On a global scale these are always achievable. It is at a country or smaller geographic territory-level where problems often arise.

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What is Food Security? Part II: A challenge in many regions is the transport from the farm of the right food to the consumer without physical loss or spoilage. Putting transit losses aside, there is a question of getting the “correct” food and influencing the supply chain.

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What is Food Security? Part III: Putting It into Practice and a Look to the Future: In several Asian countries there are already examples of attempts to alleviate the physical, social and economic factors that hamper food security. China in particular is rapidly developing a sophisticated agriculture insurance system with evidence of a number of different risk transfer instruments.

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June 3rd, 2014

Balkans Floods

Posted at 2:13 PM ET

balkans-floods-map-may-2014-small-200Event Summary

Heavy rain has caused widespread flooding across several countries in the Balkans region of Southeast Europe. Serbia, Bosnia and Herzegovina and Croatia were badly affected by the floods in May. According to Serbia’s Meteorological Institute, three months’ worth of rain fell in just three days in mid-May, resulting in the worst floods to hit the country since rainfall measurements began some 120 years ago. Bosnia also experienced its heaviest rainfall since records began in 1894, reports said.

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May 29th, 2014

Europe Embraces Annuity Settlements for Bodily Injury

Posted at 1:00 AM ET

Here we review GC Capital Ideas entries highlighting Europe’s embrace of periodic payment orders over traditional lump sum payments for the settlement of bodily injury claims.

Time Off for Certain Behavior: The Courts Act of 2003 fundamentally changed the way that catastrophic injury claims are settled by insurers. It gave the courts the power to enforce a periodic payment order (PPO) as compensation instead of an upfront lump sum payment. A PPO is an annuity payment from the insurer to the claimant, and is designed to cover ongoing care costs, loss of earnings and other expenses associated with the injuries sustained for the rest of the claimant’s lifetime.

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Chart: Prevalence of Annuity Settlements in Europe: For bodily injury claim settlements in Europe, the trend is shifting away from lump sums and towards annuity-type settlements, which come with risks related to longevity, inflation and hedging.

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May 28th, 2014

2014 Reinsurance Renewals

Posted at 1:00 AM ET

As we approach the June 2014 reinsurance renewals, we review the reinsurance renewals Guy Carpenter has reported on so far this year.

April Renewals Bring Price Reductions & Focus on Tailored Coverage: Guy Carpenter reports that the April 1, 2014 renewal was marked by price reductions and more tailored reinsurance coverage. Strong balance sheets, an abundance of capacity and a consolidation of buying led to lower reinsurance pricing across most territories and business segments at the renewal.

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January 1, 2014 Renewals Bring Downward Pressure on Pricing: Guy Carpenter & Company reports that reinsurance rates-on-line fell at the January 1, 2014 renewal in nearly all classes and regions. According to Guy Carpenter’s 2014 global renewal report, strong balance sheets, relatively low loss experiences and an unprecedented influx of convergence capital spurred competition and innovation at renewal. These factors led in turn to surplus capacity across most business segments as competition spilled beyond property catastrophe lines.

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April 28th, 2014

GC Securities* Completes 144A Indemnity Triggered Europe Windstorm Catastrophe Bond for Assicurazioni Generali S.p.A.

Posted at 11:30 PM ET

GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of Principal At-Risk Variable Rate Notes, with notional principal at €190,000,000, through a newly formed special purpose reinsurance vehicle domiciled in Ireland, Lion I Re Limited, to benefit Assicurazioni Generali S.p.A., an Italian insurance company and the parent company of the Generali Group. This is the first time that Assicurazioni Generali S.p.A. has utilized the cat bond market and is the first ever 144A cat bond to provide indemnity protection against Europe windstorm risks. Additionally, it is the first Italian sponsored catastrophe bond

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