Posts Tagged ‘Reinsurance’
Guy Carpenter today released its 2015 Mid-Year Report on the (re)insurance landscape. In addition to providing a brief recap of renewal activity highlighted in their release on July 9, the report assesses key industry trends, including a detailed assessment of mergers and acquisitions activity and highlights other notable themes such as cyber security risk, increased regulation and public-private partnerships.
GC Securities* Completes Catastrophe Bond Panda Re Ltd. Series 2015-1 Notes Benefiting China Property & Casualty Reinsurance Company Ltd. and China Reinsurance (Group) Corporation
GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of Series 2015-1 Class A Principal At-Risk Variable Rate Notes due July 9, 2018, with notional principal of USD 50,000,000, through a newly formed catastrophe bond shelf program, Panda Re Ltd., to benefit the China Property & Casualty Reinsurance Company Ltd. and China Reinsurance (Group) Corporation (collectively “China Re”).
Guy Carpenter today released its July 1 Renewal Briefing that shows price declines have continued to moderate, predominantly on programs covering US wind. Overall pricing was down again at the July renewal across virtually all geographies and lines of business. However, additional limit placed over the past few months is partially responsible for the stabilization of price declines, particularly for US property. Increased demand for reinsurance and expansion of tailored coverage persisted through the July renewal period from previous seasons.
Here we present GC Capital Ideas’ stories on analyses of enterprise risk management disclosures. A 2014 study updated the analysis done in 2009, one of our most popular stories. The full briefings are attached.
Here we review recent GC Capital Ideas stories on mounting concerns over cyber-attacks.
Guy Carpenter today announced the appointment of Tim Gardner as CEO of U.S. Operations effective August 1, 2015. Mr. Gardner will be a member of the Guy Carpenter Board of Managers and he will be based in New York.
Six repeat sponsors re-entered the market in the three months ending March 31, each issuing either replacement coverage or additional limit in advance of the North Atlantic wind season. Many of the repeat sponsors sought to continue to take advantage of attractive pricing as demonstrated by Catlin’s Galileo Re Ltd. Series 2015-1 Notes. This particular transaction was Catlin’s second catastrophe bond issuance through the Galileo Re Ltd. catastrophe bond facility and fifth overall 144A catastrophe bond issuance, with the 2015-1 tranche sitting below the outstanding Series 2013-1 layer. The 2015-1 Notes demonstrate that investors continue to show an interest in high risk/higher yielding products as the initial risk interest spread on the Galileo Re Series 2015-1 Notes is 13.50 percent with a modeled annual expected loss of 8.60 percent on a sensitivity basis - based on AIR risk analysis.
Here we review the evolving role of reinsurance in mitigating public sector risk through the expanding deployment of reinsurance and capital market solutions:
Guillermo Franco, Head of Catastrophe Risk Research - EMEA
Destruction caused by catastrophes often unfolds due to inadequate construction practices or land use planning. The likely response to these events is to strive to “build back better,” in part by addressing the mistakes of the past. Unfortunately, communities that embrace this challenge often find that they lack the financial resources for it and ambitious reconstruction projects lose momentum.