Henry Keeling, President and CEO — International Operations
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At the end of 2008, the normal pre-renewal uncertainty was magnified by the effects of the most severe financial crisis in more than 70 years. Financial markets were in turmoil, and the cost of capital was rising. Yet, these pressures were counterbalanced by capital positions that remained sufficient, despite the impairment of investment assets. The outcome was relatively benign, but anxiety was endemic before the January 1, 2009 reinsurance renewal. Now, 12 months later, the marketplace is much different, indicating the remarkable recovery that has occurred in 2009.

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Guy Carpenter & Company, LLC hosted “Capital Creativity — the Road to Renewals,” the Baden-Baden Reinsurance Symposium held in Baden-Baden on October 25. The event focused on the effective management of capital in the (re)insurance industry.The symposium was moderated by Chris Klein, Global Head of Business Intelligence at Guy Carpenter. Henry Keeling, President and CEO of International Operations at Guy Carpenter, provided the opening remarks, followed by presentations from Luzi Hitz, CEO of PERILS; Clemens von Weichs, CEO of Allianz SE, Reinsurance Division; and Victor Peignet, CEO of SCOR Global P&C. Wolfgang Gerstner, Lord Mayor of the City of Baden-Baden, welcomed attendees to the city.

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Henry Keeling, President and CEO of Guy Carpenter’s International Operations
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The emerging consensus seems to be that Solvency II will cost a lot and make the (re)insurance business more complicated. If conventional approaches to regulatory compliance are applied, this is likely to be true. After all, compliance tends to be seen as just another expense. This does not have to be the case for Solvency II, however. Choosing the right approach could free capital for investment elsewhere, ultimately resulting in a competitive advantage. “Competitive compliance,” consequently, can create an upside where most would perceive only a cost to be managed.

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As Industry Rebounds from Financial Crisis, Disciplined Capital Management and Decision-Making Remain Paramount

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• Press Release
• Audio Replays/Podcasts
• Photo Gallery

Guy Carpenter & Company, LLC hosted a press briefing at Rendez-Vous in Monte-Carlo on September 5, 2009, focusing on the return of capital to the reinsurance market.

Brian Duperreault, President and Chief Executive Officer of Marsh & McLennan Companies, Inc., opened the briefing. Peter Zaffino, President and CEO of Guy Carpenter, then led a panel of Guy Carpenter executives that included Vice Chairman Richard Booth, Henry Keeling, President and CEO of International Operations, Chris Klein, Global Head of Business Intelligence and David Priebe, Chairman of Global Client Development.

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Henry Keeling, President and CEO of International Operations, Guy Carpenter, explores the major issues affecting the (re)insurance industry in Europe, including Solvency II and how to use “competitive compliance” to secure an advantage in the marketplace at Monte Carlo Rendez-Vous in this GC Capital Ideas podcast. Click the audio player below to listen to the interview, or download the interview in a file that will work with your iPod.

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Click here to download an iPod-compatible version of the Henry Keeling’s press briefing remarks >>