Guy Carpenter today announced the launch of GC AdvantagePoint® 2.0, the latest release of its cutting edge client portfolio and risk management platform.
Guy Carpenter today published a new report, A Clearer View of Emerging Risks, which examines four key areas where risks continue to emerge or are largely unknown.
Guy Carpenter today launched CAT Risk Studio (CRS), a new division that will support Guy Carpenter’s Model Suitability Analysis (MSA)® initiative and will work closely with GC Securities* on the development of parametric products for catastrophe risk transfer. CRS establishes Guy Carpenter’s presence at the Marsh & McLennan Innovation Centre in Dublin, Ireland.
Guy Carpenter today announced the launch of the Financial Institutions and Cyber components of the GC ForCas℠ casualty catastrophe modeling platform. GC ForCas is a stochastic modeling platform developed to help insurance carriers better understand their exposure to casualty catastrophe losses resulting from the accumulation of U.S. Commercial Lines insurance policies.
Guy Carpenter today announced the launch of GC ForCas℠, its new data-driven casualty catastrophe model.
In 2011, Thailand experienced its worst flooding in years with insured losses estimated at around USD15 billion,(1) of which the Thai General Insurance Association attributed more than 90 percent arising from commercial risks located within industrial parks. As industrial parks are common in several countries in the region, Guy Carpenter developed a database of digitized boundaries of these parks to support its clients’ ability to analyze the potential for catastrophic losses arising from exposures located within park boundaries.
Here we review recent GC Capital Ideas stories that have touched on issues relating to the Solvency II regime.
David Lightfoot, Head of GC Analytics® - International, Eddy Vanbeneden, Head of GC Analytics - Continental Europe and Markus Mueller, GC Analytics, Solvency II Continental Europe
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Benchmarking QIS5 Scenario Return Period against Vendor Models
Our analysis supports the fact that losses in the QIS5 windstorm scenarios are often within the range of the major vendor models. But how do return frequencies compare? The QIS5 standard scenarios are tailored to represent a 200 year return period in each territory. Looking at the QIS5 loss estimate on the modeled exceedance probability curves reveals the corresponding modeled return period. Plotting the implied vendor model return frequencies against the QIS5 scenarios’ 1-in-200 year level yields an interesting (albeit similar) spread, as shown in Table 1.
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David Lightfoot, Head of GC Analytics® - International, Eddy Vanbeneden, Head of GC Analytics - Continental Europe and Markus Mueller, GC Analytics, Solvency II Continental Europe
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With the generalized use of catastrophe models to measure the natural catastrophe exposure of insurance portfolios, the outcomes of these models have more and more influence in the determination of reinsurance needs. With the introduction of the Solvency II regime, the decision on reinsurance purchase should also be an integral part of a company’s risk management process. Specifically, an important consideration is the impact of reinsurance contracts on the Solvency Capital Ratio, a key decision metric of the risk management process. This process is not always easy when the probable maximum losses (PMLs) derived by the cat models differ from the standard European scenarios under Solvency II for calculation of the Solvency Capital Requirement for cat risk (SCRCat).
