Guy Carpenter & Company today announced the promotion of John Fletcher to Chairman of the firm’s Bermuda Operations, with immediate effect.
Chapter 2: How have 2017 losses and the last several years of declining rates impacted reinsurer profitability? Has increasing prevalence of retrocessional reinsurance, now provided primarily by convergence capital providers, had an impact? Part I.
The Guy Carpenter Global Reinsurance Composite Third Quarter results provided hard data and context for recent industry performance.
Guy 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.
The Florida peninsula is the most important market for property reinsurance in the world. Each summer, the third most populous state in the union braces itself for another Atlantic hurricane season. In Florida’s esoteric insurance market, insurers buy reinsurance protection at the beginning of June each year.
The Florida peninsula is the most important market for property reinsurance in the world. Each summer, the third most populous state in the union braces itself for another Atlantic hurricane season. In Florida’s esoteric insurance market, insurers buy reinsurance protection at the beginning of June each year.
Guy Carpenter & Company today launched GC Asia Pacific Retro, a new unit offering dedicated retrocession services to clients in the Asia Pacific region.
Guy Carpenter & Company today announced that Peter Stubbings has been promoted to CEO of the firm’s Bermuda operations, with immediate effect. In addition, Richard Keegan is to join the Bermuda team as Senior Vice President in May.
Eva Zheng and Graham Jones
It is anticipated that the China Insurance Regulatory Commission (CIRC) will recognize cash deposits (including premiums withheld), letters of credit (LOC) and certain other forms of collateral. LOCs must be issued by domestic banks with a capital adequacy ratio of no less than 11 percent or by overseas financial institutions with credit ratings equal to or higher than AA-. Cedents will be required to report and re-value their counterparty risk on a quarterly basis and adjust collateral positions accordingly.
Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), reports that after two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June renewals.
