Record Number of Guy Carpenter Brokers Selected in 2009,
Accounting for More Than Half of All Industry Honorees

An unprecedented 29 members of Guy Carpenter & Company, LLC’s global broking team have been selected to Risk & Insurance magazine’s 2009 “Reinsurance Power Brokers” list, the highest number among all reinsurance intermediaries. The annual Power Brokers directory, now in its third year, honors individual reinsurance brokers for creativity in solving clients’ risk management issues, depth of practice or line-of-business expertise, and superior client service.

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Global Property Specialty and Business Intelligence Unit
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Property-catastrophe reinsurance rate increases were steady at the July 1, 2009 renewal. In the United States and Latin America, capacity was sufficient to meet demand. U.S. property-catastrophe reinsurance rates increased 15 percent year-over-year, in line with the trend from January to June. In Latin America, preliminary data varied by country, but upward pressure on pricing was offset by supply and local market competition to keep reinsurance rate increases contained. For the marine sector, rates were up 5 percent to 10 percent, based mostly on loss history and catastrophe exposure. With four major renewal periods covered this year, a sense of calm has emerged. The general reinsurance market is tepid, with a few hotspots based on region- or program-specific factors.

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Lara Mowery, Managing Director and Head of Global Property Specialty
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Property-catastrophe reinsurance rates increased by 15 percent at the Florida-centric June 1, 2009 renewal — compared to a 15 percent decline a year ago. Capacity was more limited than in recent years — however, still adequate to complete renewals. Though the ultimate result was higher than the 10 percent to 14 percent change for U.S. national reinsurers at April 1, 2009, the intricacies of the Florida market render it directionally consistent with the overall rate trend for this year. Constraints on capital have pushed risk-transfer pricing higher, but shortages were not so severe that rates spiked as they did in 2006.

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Lara Mowery, Managing Director and Head of Global Property Specialty
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Reinsurance rates continued to increase for the U.S. property-catastrophe reinsurance market at the April 1, 2009 renewal, extending the trend that began at the beginning of the year. National programs were up 10 percent to 14 percent on a risk-adjusted basis, with those in the Northeast seeing 6 percent to 8 percent increases. This compares to a reinsurance rate increase of 11 percent on average at the January 1, 2009 renewal.

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