The global terrorism landscape has changed considerably since the September 11, 2001 attacks. During this time, improved intelligence and counter-terrorism operations around the world have weakened the threat posed to the West by the core al-Qaeda group. Military operations in Afghanistan and Pakistan and the killing of several key terrorist operatives, including Osama bin Laden, have marginalized al-Qaeda and its affiliates and prevented other spectacular attacks on the scale of September 11, 2001.
Posts Tagged ‘Property’
In our first MENA Insights interview, Dr Cherif Chentir, Chief Underwriting Officer, Middle East, South Eastern Europe, Greece, Cyprus, Malta, SCOR SE, talks about the mega-projects taking place in the region and his belief that insurance penetration can only move in one direction. He looks back over his long career and charts the development of a market that has changed beyond all recognition.
Welcome to the beginning of a new series of video interviews with an esteemed panel of experts from the Middle East and North Africa (MENA) region. The MENA Insights interviews, conducted by Guy Carpenter, offer a snapshot of how (re)insurance in MENA is developing and the many opportunities for re/insurers. The series is intended to help set the agenda ahead of the September meeting of the General Arab Insurance Federation (GAIF) in Egypt.
The threat from terrorism has undergone significant change since the attacks of September 11, 2001. Heightened and more effective counter-terrorism activities in the following years have prevented repeat attacks on the scale of those carried out in New York and Washington D.C. Nevertheless, al-Qaeda and its affiliates, along with individuals inspired by the movement, still pose a significant threat to Western interests around the world as events over the last 18 months have shown.
Guy Carpenter announced the appointment of Simon Smith as Head of EMEA & International P&I Business, effective September 1.
Hurricane Andrew made U.S. landfall in 1992. The storm originated from a tropical wave and experienced disruptive wind shear until arriving in the West Atlantic. Once in the West Atlantic, Andrew first reached hurricane status on the morning of August 22 and then developed explosively into a Category 5 hurricane on the Saffir-Simpson scale with maximum sustained winds of 165 mph when it made landfall on Florida’s coast.
The chart indicates that the proportion of hurricanes counted in the Atlantic Basin and those that made landfall has been very volatile through the years. While there is indeed a weak correlation between hurricane counts in the Atlantic Basin and the number of U.S. landfalls, statistical significance is a subject of some debate in the scientific community (Coughlin et al., 2009; Dailey et al., 2009).