Tropical Storm Isaias crosses Puerto Rico and Hispaniola today, causing some temporary decline in intensity. Thereafter, the NHC forecast calls for Isaias to intensify to borderline tropical storm / category-1 strength near south Florida by Saturday. Land interaction and the strength of the Bermuda high thereafter will determine the strength and track of Isaias further up the ... Continue Reading »
Webinar: Epidemiology Modeling and Consumer Confidence – COVID-19 and the Impact on the U.S. Financial System
In times of economic distress, (re)insurance is typically considered by investors to be a defensive sector. This is not to say the sector will be unaffected by the COVID-19 crisis. Access to capital has reduced while carriers’ assets have clearly been hit by lower interest rates, wider credit spreads and an equity crash. A fall back into recession will also hinder growth o ... Continue Reading »
Chart: Real Gross Domestic Product Projections for Countries Exposed to Climate Change by 2048
The following chart shows that two groups of countries are most likely to be affected negatively by climate change: nations in hot climates, particularly emerging economies such as Malaysia, Algeria, the Philippines and Thailand, and oil producers such as Saudi Arabia, Qatar and Oman. ... Continue Reading »
COVID-19: Cybersecurity Checklist for Remote Working
As a sector intrinsically tied to digital technology, cyber insurance is known for its dynamic and evolving nature. Looking toward the remainder of 2020, as COVID-19 upends how businesses interact with technology, the reinsurance market sees a number of emerging trends that present both potential challenges and opportunities. ... Continue Reading »
Global Insurance Market Index – First Quarter 2020
While June 1 reinsurance renewals were challenging, capacity ultimately came together to meet cedents’ needs and the market continued to function well. Similar outcomes are expected at July 1, and looking further ahead to January 1, 2021. The reinsurance sector has shown itself to be well versed at navigating market-changing events, and the overriding message following June 1 r ... Continue Reading »
Guy Carpenter Appoints Managing Director of Global Risk Solutions
Guy Carpenter announced today the appointment of Andrea Piatti as a Managing Director, Global Risk Solutions, effective August 3. ... Continue Reading »
How Will COVID-19 Unfold in 2020’s Second Half?
As the COVID-19 situation is changing on a daily basis, the impact to the insurance and reinsurance markets is not yet fully known. As outlooks on the pandemic evolve, the (re)insurance industry remains at the forefront of conversations to create a forward-looking solution for pandemic risk in conjunction with policyholders, insurance markets and key policymakers. ... Continue Reading »
Unlocking Inforce Value in Asia-Pacific: The USD 10 Billion Opportunity For Life Insurers
The current life reinsurance model has at best been managed passively; and at worst, has been a "set-and-forget" exercise. Notably, neither approach will fully satisfy risk management, capital management and relationship management objectives. Operationally, this approach limits insurers' ability to manage risks from a top down perspective and actively adjust the underlying ... Continue Reading »
CAT-i Bulletin: Hurricane Hanna
Hurricane Hanna, the eighth named storm and first hurricane of the 2020 Atlantic season, made landfall in South Texas at 6PM EDT, July 25, 2020 as a category-1 hurricane. This is the highest number of named storms in the Atlantic this early in the season, according to the known historical record, and is one storm ahead of the hyperactive 2005 season. ... Continue Reading »
Silent Cyber – No Longer Silent: Part Two
The goals of Lloyd’s and global regulators are to safeguard the sustainability of the insurance market, provide contract certainty for clients and drive innovation of new cyber products to fill the evolving needs of clients, according to Guy Carpenter colleagues Siobhan O’Brien, International Cyber Center of Excellence Leader, and Erica Davis, North America Cyber Center of Exc ... Continue Reading »
