Posts Tagged ‘Reinsurance’



February 20th, 2018

Managing Catastrophe Model Change

Posted at 9:38 AM ET

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Incorporating new hazard and claims insights can improve the estimates derived from catastrophe models. By re-analyzing historical events using the latest scientific methods or refining claims with more granular geographical and line of business breakdowns, we can update models with the latest expertise and data. But model changes that yield large swings in loss estimates for frequent events must be carefully scrutinized to understand assumptions and processes in order to truly support ownership of risk.

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February 19th, 2018

Marsh & McLennan Companies Climate Resilience Handbook, 2018

Posted at 1:00 AM ET

Marsh & McLennan Companies has developed a comprehensive framework to help organizations think through all aspects of climate resilience. The 2018 MMC Climate Resilience Handbook provides concise cases that will change the way you think about climate in the context of your organization in three categories of action.

January 31st, 2018

Cyber Risk in an Interconnected World; Part I

Posted at 1:00 AM ET

platt-jeremyJeremy S. Platt, Managing Director and US Cyber Specialty Practice Leader

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In a digital world, cyber exposure evolves every day, making it one of the most dynamic emerging risks in the industry. Just as the housing boom along the US shoreline accelerated property losses, the technological sophistication and digital connectivity of the global economy have increased the cyber threat for all sectors. As large-scale breaches become more damaging and pervasive, the (re)insurance industry needs to continue to innovate to address potential systemic events, aggregations, and modeling capabilities. As such, 2018 will be a year of product growth and new challenges. In order to advance this important market, we must develop a common analytical language, harness advanced modeling technologies and learn lessons from other lines of business.

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January 18th, 2018

Guy Carpenter Reports Capital Growth and Market Resilience Despite 2017 Losses

Posted at 2:00 AM ET

lighthouse-thumb-22Guy Carpenter has released an estimate of year-end reinsurance capital levels and results of the January 2018 reinsurance renewal.

According to the analysis, capital dedicated to reinsurance continued to grow in 2017 despite catastrophe losses. Due to ongoing excess supply and overall market resilience at January 1, rate firming was generally moderate and pricing shifts focused on client-specific justification.

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January 18th, 2018

Increasing External Demands Compel Companies to Improve Risk Management Disclosures

Posted at 1:00 AM ET

Guy Carpenter released its latest Enterprise Risk Management (ERM) Benchmark Review that provides an in-depth analysis of risk management practices and policies of 67 insurance and reinsurance companies located in Europe, United States, Bermuda, and Asia-Pacific. Based on publicly-available data from financial and risk reports, Guy Carpenter’s ERM Benchmark Review reveals that most (re)insurers are managing capital with metric-based frameworks and are publishing more about their risk management targets than seen in Guy Carpenter’s 2009 analysis. Capital market, legislative, and regulatory influences, such as the approaching implementation of Solvency II, are expected to further compel company managements to better recognize and analyze the risks of their enterprises.

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January 16th, 2018

Exploring the Excess & Surplus Industry: E&S Market Update and Projections

Posted at 1:00 AM ET

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The excess and surplus (E&S) lines segment of the insurance industry continues to be the essential market for risks for which  the standard insurance market typically does not offer coverage. From extremely hazardous conditions to highly unique business operations and unproven new products, these unconventional risks are often complex and challenging. The E&S market’s challenge is to develop products to cover these exposures utilizing its expertise and freedom of rate and form.

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January 3rd, 2018

GC Capital Ideas Top Stories: Fourth Quarter, 2017

Posted at 1:00 AM ET

1. Guy Carpenter Reports US Insurance Market at a Crossroads but Opportunity Exists: Guy Carpenter today released a study outlining a dynamic insurance industry facing a changing economy and pressure in once-stable lines, but with opportunity for those with management skill and understanding of risk.

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2. Reinsurance Market Poised to Remain Vibrant Following Recent Catastrophe Events: While the reinsurance product has delivered compelling balance sheet solutions since its beginnings, recent catastrophic events in Mexico, the Caribbean and the United States have created a perfect opportunity for the market to showcase its ability to adapt solutions to the unique risk profiles of individual clients seeking to manage capital events, according to David Priebe, Vice Chairman, Guy Carpenter.

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3. Increasing External Demands Compel Companies to Improve Risk Management Disclosures; Guy Carpenter released an Enterprise Risk Management (ERM) Benchmark Review in 2014 providing an in-depth analysis of risk management practices and policies of 67 insurance and reinsurance companies located in Europe, United States, Bermuda, and Asia-Pacific. Based on publicly-available data from financial and risk reports, Guy Carpenter’s ERM Benchmark Review reveals that most (re)insurers are managing capital with metric-based frameworks and are publishing more about their risk management targets than seen in Guy Carpenter’s 2009 analysis.

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4. Managing Catastrophe Model Uncertainty, Issues and Challenges: Here we repeat our series authored by John Major, which focuses on the issues and challenges in managing catastrophe model uncertainty.

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5. Chart: Combined Ratio for Guy Carpenter Reinsurance Composite, Q3, 2017: Chart presents combined ratio of the Guy Carpenter Reinsurance Composite, 2005 through third quarter, 2017.

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6. Flood Insurance: The 2018 Market Opportunity: Among all natural hazards, flood is the most costly and the most impactful on people. The Insurance Information Institute estimates that only 12 percent of homeowners purchase flood insurance, and most of the purchases are through the National Flood Insurance Program (NFIP). The gap in flood insurance protection represents up to a USD 40 billion potential new market for private insurers in the United States, according to Jonathan Hayes, Managing Director, Guy Carpenter.

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7. Asia Pacific Catastrophe Report 2017: Executive Summary: A year marked by generally benign loss experience and few large catastrophe events meant that rates continued to remain positive for buyers in the Asia Pacific region throughout 2017. At the same time, the trend for steady growth in limit purchased continued. Much of the new limit purchased tends to be at the top of programs, and this feeds through to lower overall average rates on line (ROL), which is also reflected in the indices.

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8. California Wildfires - October 8-17, 2017 - Update: Wildfire activity has rendered especially severe impacts to certain areas of California since October 8, including areas of Napa, Sonoma and Solano Counties. Wildfire activity has also rendered impacts to areas of Orange County east of the Los Angeles Metro area.

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9. Baden-Baden Reinsurance Symposium Addresses Industry-wide Impact of Disruption: Guy Carpenter & Company hosted the Reinsurance Symposium in Baden-Baden on October 22. The ninth year that Guy Carpenter has hosted the event, the theme of the Symposium was “Profiting from Disruption.”

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10. Just Say “Know” to Insurtech: Insurtech’s impact on the insurance industry is surging, reminding us of the influence that technological change and growth bring to the modern consumer and business landscapes and individual industries  -  the development of fintech within financial services being an example.

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December 21st, 2017

Reinsurance Solutions Continue to Achieve Stability and Growth for Cedents

Posted at 1:00 AM ET

james-nash-headshot-darker-smchu_julia_photograph-smJames Nash, President, International and Julia Chu, Managing Director

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  • Shift in buying strategies towards managing volatility
  • Marketplace ‘vibrant’ as buyers capitalize on full array of products
  • Move to de-commoditize solutions driving up product complexity

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December 19th, 2017

Addressing Flood Peril

Posted at 1:00 AM ET

Here we review recent GC Capital Ideas posts on Guy Carpenter’s efforts to address the flood peril.

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