Here we highlight recent GC Capital Ideas stories authored by Andrew Cox, Head of Advisory, EMEA, at Guy Carpenter.
Posts Tagged ‘MENA’
The macroeconomic environment continues to be top-of-mind among insurance leaders. With growth in global real gross domestic product (GDP) slowing from 4.1 percent in 2010 to 3 percent in 2011, insurance leaders continue to experience significant headwinds challenging profitable growth. As reported by Swiss Re, insurance overall direct premiums declined 0.8 percent in real terms in 2011. Nevertheless, pockets of opportunities do exist and will continue in the near term. Stabilizing social/political conditions, investments in infrastructure and demographic progression continue to fuel strong positive GDP growth and increasing insurance penetration in emerging economies. In these economies, overall direct premiums increased 1.3 percent in real terms in 2011, with non-life premiums increasing 9.1 percent.
Guy Carpenter & Company has opened its first office in the Middle East and has received a license from the Dubai Financial Services Authority (DFSA) to operate as an insurance intermediary in the Dubai International Financial Centre (DIFC).
As (re)insurers are challenged to deliver healthy, accretive returns in maturing and increasingly competitive markets, emerging markets present growth opportunities that may not be found in the United States or Europe. Regulatory challenges, tightening reserve levels and capital requirements, coupled with volatile global economies and a low interest rate environment, are forcing companies to seek non-traditional or emerging growth strategies.
Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and part of the Marsh & McLennan Companies, was honored with two major accolades at The Review magazine’s prestigious Worldwide Reinsurance Awards 2010. For the fourth consecutive year, Guy Carpenter won the award for “Reinsurance Broking Team of the Year” as well as the coveted “Re/Insurance Initiative of the Year” award for developing CasCat®, the insurance industry’s first casualty catastrophe model.