Casualty (re)insurance is often overshadowed by developments in property lines. As the last two years have shown, the human impact and devastating damage caused by catastrophes such as hurricanes, typhoons, wildfires and earthquakes tend to dominate the headlines, according to Julian Alovisi, Head of Research and Publications, Guy Carpenter. The casualty market rarely gets ... Continue Reading »
Casualty
Cyberattacks Are Top Concerns Among Business Leaders in the Largest EU Economies
Results from the World Economic Forum’s 2019 Executive Opinion Survey indicate that concerns about “cyberattacks” are top among business leaders in the four largest European Union (EU) economies: Germany, France, Italy and the United Kingdom; and rank first in another six countries across the continent. In late 2018 and throughout 2019, European countries have experienced cyber ... Continue Reading »
Guy Carpenter Announces Senior Appointments as it Further Strengthens Bermuda Platform
Guy Carpenter announced today the appointment of Robert Johnston as Chairman of Guy Carpenter’s Bermuda operations, and Peter Komposch as Head of Casualty and Specialty, Bermuda, with immediate effect. Mr. Johnston has nearly 20 years’ experience in Bermuda, most recently as President of Aon Reinsurance Solutions in Bermuda. He will report to John Trace, CEO of North Ame ... Continue Reading »
Baden Baden: GC@BB Commentary Roundup
Here we highlight the most popular stories among our GC@BB series, which featured our review of critical issues shaping the reinsurance industry. These were the focus of discussions at the recent Baden Baden Reinsurance Symposium, which was hosted by Guy Carpenter. ... Continue Reading »
GC Capital Ideas Top Stories: October 2019
1.CAT-i Bulletin: Super Typhoon Hagibis: Typhoon Hagibis made landfall in Japan as a category-2 on the Izu Peninsula in the Shizuoka Prefecture on October 12 around 7 PM local time. Large stretches of the country were hit by strong winds and torrential rainfall, and the Japan Meteorological Agency issued warnings and advisories affecting all prefectures in the Honshū, Kyushu, ... Continue Reading »
A Dynamic Approach to Managing Life Reinsurance Arrangements
The traditional life reinsurance model typically involves perpetual treaties linked to an underlying product. In order to create alignment between the contracting parties, the treaty would follow the underlying terms of the product. However, the treaty structure may concurrently include provisions that reduce alignment between the insurer and reinsurer, to the insurer’s d ... Continue Reading »
Marsh & McLennan Companies Cyber Handbook 2020
Cyberattacks are viewed by business leaders as the number one risk in advanced economies for the second year in a row, according to the latest World Economic Forum executive opinion survey. This widespread and continuing apprehension about cybersecurity is reinforced by the results of the Marsh | Microsoft 2019 Global Cyber Risk Perception Survey, which found almost 80 percent ... Continue Reading »
Modeling Insights
Here we review recent GC Capital Ideas posts covering insights on modeling. Terror: The Role of Technology and Analytics: Terrorism, political violence and other malicious acts differ from other insurable perils in that they are dynamic and adaptive; there is human intent driving the probability and willing the impacts to change. Historic incidents show past trends, but ... Continue Reading »
Workers Compensation Is About to Be Transformed
Workers compensation is the largest premium segment in the U.S. commercial insurance market. Workers compensation, mandated by law in 49 U.S. states to provide employer reimbursements for injuries occurring in the course of employment, represents one of the largest nondiscretionary expenses for labor-centric firms. Yet these premiums are dwarfed by the overall cost of ... Continue Reading »
IFRS 17 and the Value of Reinsurance: An Opportunity in the Challenge
International Financial Reporting Standard (IFRS) 17, issued by the International Accounting Standards Board, is the new financial reporting standard for insurance contracts that will replace the current rules of IFRS 4 and will become effective on January 1, 2022. IFRS 17 will impact the insurance value chain far beyond the areas of actuarial modeling and financial reporting. ... Continue Reading »
