With 2009 coming to a close, this week we’re taking a look at the most popular stories of the year.

GC Podcast 01 — July 1 Renewals (Chris Klein): Guy Carpenter Global Head of Business Intelligence Christopher Klein discusses the July 1, 2009 reinsurance renewal in this new 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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GC Podcast 03 — Casualty Catastrophe (David Lewin): David Lewin, Head of the European Casualty Specialty, discusses casualty catastrophes and Guy Carpenter’s innovative Casualty Cat model, developed in conjunction with Arium, Ltd., in this new 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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Guy Carpenter & Company, LLC, the world’s leading risk and reinsurance specialist, announced that it has entered an agreement to buy all of the issued shares of the London-based reinsurance broker Rattner Mackenzie Limited (RML) from HCC Insurance Holdings, Inc. (HCC).

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Peter Zaffino, President and CEO
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At this time last year, the reinsurance market was vastly different. A financial catastrophe and major hurricane occurred and changed the way (re)insurers viewed risk. As both events receded, our industry was left with profound uncertainty. More than being concerned about the direction of reinsurance rates at the January 1, 2009 renewal, carriers worried that a widespread capital shortage was imminent, impairing their abilities to assume and transfer risk. Despite the severity of the financial and natural catastrophes the reinsurance market proceeded in an orderly fashion, with property-catastrophe rates up 10 percent to 15 percent on average and other segments not significantly impacted.

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Peter Zaffino, President and CEO
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Last year the conversations at Monte Carlo were driven by a mixture of factors. Reinsurance pricing was decreasing in response to the reduced loss activity. Capital was being returned to shareholders as reinsurers withdrew capacity rather than accept terms that did not meet their own internal hurdle rates. Concerns were growing about the implications of the unfolding global financial crisis and whether the problems that had affected the banks would have a material impact on the insurance and reinsurance industry.

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Guy Carpenter & Company, LLC’s annual survey of the global property catastrophe reinsurance market, World Catastrophe Reinsurance Market 2009, finds reinsurance rates increasing by an average eight percent through the 2009 reinsurance renewals. The report states that the increase was largely a result of the financial crisis and its negative impact on reinsurers’ balance sheets, and exacerbated by Hurricanes Ike and Gustav. The study also concludes that little movement in reinsurance rates should be expected at the January 1, 2010 reinsurance renewal, barring a major property catastrophe or financial set back.

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

Contents

• 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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Peter Zaffino, President and CEO, Guy Carpenter, and Brian Duperreault, President and CEO of Marsh & McLennan Companies, Inc., introduce the Guy Carpenter press briefing 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 press briefing introduction >>

Click here to view the press release, photo gallery and list of related podcasts >>

Credit, Bond and Political Risk Team Honored;
Third Consecutive Year Guy Carpenter Has Won Accolade

Guy Carpenter & Company, LLC’s Credit, Bond and Political Risk Team won the “Reinsurance Broking Team of the Year” award at The Review magazine’s Worldwide Reinsurance Awards 2009, presented last night at The Dorchester Hotel in London. This year’s victory represents the third consecutive year — and the fifth time in six years — that Guy Carpenter has been awarded the “Reinsurance Broking Team of the Year” honor.

Guy Carpenter’s Credit, Bond, and Political Risk Team was hailed by the judging panel “for leading the market with new-thinking solutions.”

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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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Peter Zaffino, President and CEO
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It’s hardly surprising that market security has become a greater priority for cedents around the world. Both natural perils and financial catastrophes have resulted in a substantial reduction in the aggregate amount of capital available in the insurance industry. While the business environment was generally stable, most carriers realized that they needed to prepare for the unimaginable. Counterparty credit risk is now approached with a heightened level of concern and diligence. At the January 1, 2009 renewal, reinsurers began to take a holistic view of the reinsurer, a trend that is unlikely to abate in the near future.

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