Guy Carpenter today announced that Paul Summers will be joining the company as Managing Director and Head of International Facultative Reinsurance, following completion of his current contractual notice period. He will assume this role from Massimo Reina, who will become Chairman of the division and will concentrate on his duties as CEO of Continental Europe & MENA.
Posts Tagged ‘Continental Europe’
As we approach the April 2015 reinsurance renewal, we look back at the Jan. 1 renewal.
Guy Carpenter reports reinsurance pricing fell at the January 1, 2015 renewals in many segments, affecting almost all lines of business and geographies, continuing recent renewal trends.
GC Securities* Completes First Ever Swiss Franc-Denominated Private Catastrophe Bond (“Gurten”) Benefitting Gebäudeversicherung Bern
GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the Regulation S placement of Principal At-Risk Variable Rate Notes (”Notes”) due January 15, 2016, with notional principal at CHF70,000,000 through Kaith Re Ltd., to benefit Gebäudeversicherung Bern (”GVB”). This is the first ever Swiss franc-denominated catastrophe bond and the first time that GVB has utilized the cat bond market to manage its risks.
GC Videocast - Rendez-Vous Press Briefing 2014 (Nick Frankland) Centralization of the Reinsurance Buying Process in EMEA
Nick 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.”
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.