The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter and City University of Hong Kong, today released its fourth annual report presenting the findings of the GCACIC’s research activities from the past year. The report details the findings of 22 projects conducted by the GCACIC, which focus on climate problems in the Asia-Pacific region as well as on a global scale.

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As we approach the April 1 Japan reinsurance renewals, we review recent GC Capital Ideas stories focusing on Asia Pacific. 

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Guy Carpenter announced that Tony Gallagher will be appointed Chief Executive Officer (CEO) of the firm’s Pacific Region effective March 1, 2013. Mr. Gallagher will be based in Sydney and will report to James Nash, CEO of the firm’s Asia Pacific region.

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Guy Carpenter has been named “Reinsurance Broker of the Year” for the fourth time in the last 5 years at the 16th Annual Asia Insurance Industry Awards after judging by a panel consisting of 29 eminent leaders from the industry in Asia and internationally.

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October 31, 2012: In 2011, Thailand experienced its worst flooding in years, which severely damaged and disrupted manufacturing operations in seven large industrial parks. Due in large part to the significant concentration of insured values in these parks, total insured loss from the 2011 flood is estimated to be in the range of USD15 to USD20 billion. In light of the disproportionate contribution of losses from industrial estates to overall insured loss, Guy Carpenter & Company has developed a database of industrial parks in Asia to help clients better identify and evaluate potential risks in the region.

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In its fifth annual press briefing held at the Reinsurance Rendez-Vous 2012 in Monte Carlo, Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist, addressed the challenging market conditions currently facing the re/insurance industry and highlighted opportunities for growth.

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James Nash, Chief Executive Officer of Asia Pacific, Guy Carpenter, discussed developments in the Asia-Pacific region. He said: “The major catastrophes of 2011 refocused the spotlight on the need for analysis and modeling capabilities, and in particular caused acceleration in the desire to understand ‘non-modeled’ perils.” He highlighted the vast potential afforded by the region, but concluded: “We share in the exuberance about Asia, but we counsel participants to remain rational and vigilant to ensure we identify when irrational exuberance is becoming apparent or escalating.”

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Guy Carpenter has received approval from the China Insurance Regulatory Commission (CIRC) to open a new branch office in Shanghai, China. The new branch will be headed up by Phil Xue.

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The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter & Company and City University of Hong Kong, released its third annual report, which presents the findings of the 27 research projects conducted by GCACIC members on climate issues in the Asia-Pacific region in 2011.

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Reinsurance rates rose as the market continues to work through the impact of the events of 2011, according to Guy Carpenter. In a briefing released today, Guy Carpenter reports that this year’s April 1 renewals are continuing the general trends observed at January 1, 2012.

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