Posts Tagged ‘Underwriting’



January 16th, 2012

Guy Carpenter: January 2012 Reinsurance Renewal: Property Overview

Posted at 1:00 AM ET

jan2012cover_gcci3The events of 2011 had a significant impact on property renewals at January 1, 2012. The approach to the property market, particularly property catastrophe business, has evolved significantly since Hurricane Andrew with the gradual incorporation of technical and model-based underwriting. There is evidence at this renewal that another subtle shift has taken place.

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November 1st, 2011

Solvency II Pillar Two: Corporate Governance

Posted at 1:00 AM ET

To support Solvency II compliance, (re)insurers need to implement rigorous corporate governance programs that address all areas of the company, from the tone and activities of company leadership through granular risk and capital management activities. Consistent with the principles of ERM, the corporate governance framework should define a clear and robust organizational structure - including an adequate operational structure, the clear allocation of tasks and responsibilities, organizational transparency and efficient information systems across all business activities. The structure should delineate a clear separation between the risk management function and the audit function. There should be a clearly apparent independence of the two functions from each other. Management’s responsibilities must be evident.

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July 20th, 2011

Guy Carpenter Forms Alliance with EagleEye Analytics To Help Insurers Optimize Risk Selection and Pricing

Posted at 1:00 AM ET

Guy Carpenter & Company announced its alliance with EagleEye Analytics, Inc., the leading provider of world-class predictive analytics solutions to the property and casualty insurance industry.

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May 5th, 2011

Tohoku Quake and Tsunami…An Industry Meets the Challenge - Reinsurance Market Short-Term Implications

Posted at 1:00 AM ET

klein_chris_bioChris Klein, Director of Reinsurance Market Management
Contact

The recent catastrophe in Japan has implications beyond reinsurance rates and balance sheets. Carriers have already begun to watch for rate changes and anticipate changes to catastrophe models. Both issues, along with the capital implications, will set the tone for the industry in the near term.

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April 13th, 2011

Succeeding Under Solvency II, Corporate Governance (Pillar Two)

Posted at 1:00 AM ET

David Flandro, Global Head of Business Intelligence, Claude Lefebvre, Head of GC Analytics EMEA Region, Eddy Vanbeneden, Head of GC Analytics France and Benelux and Frank Achtert, Managing Director
Contact

To support Solvency II compliance, (re)insurers need to implement rigorous corporate governance programs that address all areas of the company, from the tone and activities of company leadership through granular risk and capital management activities. The corporate governance framework should define a clear and robust organizational structure - including an adequate operational structure, the clear allocation of tasks and responsibilities, organizational transparency and efficient information systems across all business activities. The structure should delineate a clear separation between the risk management function and the audit function. There should be a clearly apparent independence of the two functions from each other. Management’s responsibilities must be evident.

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March 16th, 2011

Guy Carpenter Wins Enterprise Risk Management Award

Posted at 1:00 AM ET

Guy Carpenter & Company has won an award for its thought leadership and innovative research in enterprise risk management (ERM) from the Joint Risk Management Section of the Casualty Actuarial Society, Canadian Institute of Actuaries and Society of Actuaries. Working with research firm Risk Lighthouse LLC, Guy Carpenter accepted the 2011 Award for Practical Risk Management Applications at the 2011 ERM Symposium, held March 14-16 in Chicago.

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January 12th, 2011

2011 Outlook: Potential Catalysts for a Cycle Turn, Part II

Posted at 1:00 AM ET

141x141jan1thumb5Negative Underwriting Cash Flow

While reserving will almost certainly play a role either as a backdrop or as a catalyst in the next cycle turn, another less analyzed industry metric that tends to coincide with pricing cycles is industry underwriting cash flow. Here, too, the indicator is suggesting a change.

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January 10th, 2011

2011 Outlook: The Low Valuation Trap, Part I

Posted at 1:00 AM ET

141x141jan1thumb1Another effect of the sector’s growing capital position has been a marked decline in reinsurers’ valuations. The price to book ratio of the Guy Carpenter Global Reinsurance Composite is near twenty-year lows, or over two standard deviations below the long-term mean, at 0.91x. These low valuations have significant implications for reinsurance company managements with regard to company strategy and capital budgeting. They are also important considerations for financial flexibility and the potential for sector consolidation. Figure 4 plots the price to book ratio of the reinsurance sector from 1990 to the present day. The drop-off in the last decade has
coincided with higher loss activity, falling interest rates, increased capital requirements and lackluster equity global valuations generally.

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December 30th, 2010

Global Reinsurance Outlook: Points of Inflection, Positioning for Change in a Challenging Market: Executive Summary

Posted at 1:00 AM ET

141x141jan1thumb2011 Renewal Rates Reflect Continued Softening

Early predictions that January 1, 2011 reinsurance renewal rates were likely to fall have been proven correct. The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) Index lost 7.5 percent - the second consecutive annual decline. Contributing to this move has been a combination of factors, including moderate loss activity and abundant levels of industry surplus.

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November 11th, 2010

Turn Insurance Portfolio Modeling and Management into a Strategic Advantage

Posted at 1:01 AM ET

tedeschi_john_gcciJohn Tedeschi, Chief of Catastrophe Modeling
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Companies that optimize the use of economic capital models to holistically manage portfolios may gain a powerful advantage in the marketplace. Improved risk decision-making and capital allocation can translate to profitable growth and an increase in shareholder value. But, it takes a commitment: ongoing integration and evaluation of the models in the operation may create ongoing benefits to results.

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