Community-based catastrophe insurance (CBCI) solutions have the potential to enhance the financial resilience of communities and their residents, provide affordable and reliably available disaster insurance, and create incentives for community-level and individual risk reduction. Accessing insurer, reinsurer or capital market capacity can present varying benefits and ... Continue Reading »
Property
April 2021 Reinsurance Renewals: Korea
Prior to the April 1 reinsurance renewals in Korea, expectations for pricing increases were quite high. While Korea had not experienced any impactful losses in recent years, a mid-sized typhoon, heavy rain losses and several large single losses occurred in 2020, influencing the pre-renewal expectations. However, capacity was more than sufficient and certain markets were ... Continue Reading »
Guy Carpenter Appoints Global Co-Heads of Cyber
Guy Carpenter announced the appointment of Anthony Cordonnier as Managing Director and Global Co-Head of Cyber, effectve the second half of 2021, and the promotion of Erica Davis to Global Co-Head of Cyber, effective immediately. ... Continue Reading »
April 2021 Reinsurance Renewals: Japan
At the April 1 reinsurance renewals, property catastrophe pricing increased for the third year in a row. Following the first loss-free year since 2018, there was some consolation for buyers in that the average increase was the lowest of the past three years. Rates moved up on average by a small percentage for mutual buyers. ... Continue Reading »
GC Capital Ideas Top Climate Change Insights
The 2021 Global Risks Report posits that climate change impacts cannot be ignored. Here we bring together a roundup of recent GC Capital Ideas posts focusing on climate change. The 2021 Global Risks Report is published by the World Economic Forum with support from Marsh McLennan. A Hot Opportunity – Four Trillion Reasons To Accelerate the Energy Transition: Today, it is ... Continue Reading »
Renewals Season Roundup
As we head into the mid-year renewal season, GC Capital Ideas brings together posts highlighting the renewals that occurred at the beginning of the year along with early outlooks. ... Continue Reading »
Tailoring the Community-Based Catastrophe Insurance Program to the Needs of the Community
The first step in the iterative five-part process that can guide communities as they consider implementation of a community-based catastrophe insurance (CBCI) program, is “Defining the Need or Problem” that the community is trying to solve. ... Continue Reading »
Guy Carpenter Appoints Head of London Europe
Guy Carpenter announced the appointment of Sebastian Cook as Managing Director and Head of London Europe, with immediate effect. ... Continue Reading »
Guy Carpenter Launches Asia Pacific Capital Advisory Group
Guy Carpenter announced the launch of its Capital Advisory Group in Asia Pacific, with the appointments of Michael Owen and Hussain Ahmad to lead this new operation. The capital pressures that insurance companies face due to evolving market dynamics, regulatory developments and shareholders’ return expectations require sustainable, efficient and targeted solutions. The new ... Continue Reading »
A Hot Opportunity: Four Trillion Reasons To Accelerate the Energy Transition
Today, it is crucial for companies and the (re)insurance market to incorporate climate change into business considerations as investors, ratings agencies and financial regulators apply pressure on firms. If European companies do no more to reduce carbon dioxide emissions than they have currently promised, Earth’s temperature will be on track to rise 2.7 degrees Celsius by 2100. ... Continue Reading »
