Mid-Year 2020 Reinsurance Renewal – Capital: A preliminary estimate calculated by Guy Carpenter and A.M. Best indicates that total dedicated reinsurance capital was resilient at the end of the first half of 2020, recording a marginal increase of 1 percent overall from year-end 2019. Recovering financial markets and asset valuations during the second quarter of 2020 have helped shore up the traditional component of the sector’s capital base, which was up 1 percent at June 30, 2020.
The Age Of Accelerating Strategy Breakthroughs: The tremendous public health and economic impact of the coronavirus pandemic has raised the global standard for efficiency and innovation. The world can’t magically go back to the way things were before. The resilient corporations that find success in the future will be those that can continue to turn on a dime as nimbly as they have during the early months of the pandemic.
Mid-Year 2020 Reinsurance Renewal – Losses: Loss activity through the first half of 2020 was dominated by COVID-19. There is considerable uncertainty embedded in each COVID-19 loss estimate released to date. The current average of all reported ranges is ~USD 60 billion.
How Companies Can Deal With Climate Change: Stricter regulation and the mounting public demand for more aggressive cuts in carbon-dioxide emissions are creating an existential risk for companies that are not proactively moving to reduce their carbon footprint. This cannot be addressed by slapping on some solar panels, planting trees, or buying carbon offsets alone. It will require making investment decisions with multimillion-dollar and even multibillion-dollar implications, despite huge uncertainty about where future regulation and technological innovation will take the industry and global economy.
How America’s Insurance System Can Prepare For a Future Pandemic: The insurance industry, policyholders and governments throughout the world must come together on an approach that offers relief to those who need it now and develop a plan to implement mitigation strategies and a response mechanism for future pandemic events. The scale of this exposure is immense and far beyond the financial capabilities of the insurance industry alone. A public-private solution is necessary to address this risk.
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David Priebe and James Nash Discuss Superregional Pandemic Solution Possibilities: In a recent interview with The Insurer, Guy Carpenter executives David Priebe, Chairman, and James Nash, International CEO, discuss the prospect of nation states coming together to provide a wider solution for cross-border threats like pandemics and cyber.