As risks in the reinsurance world have grown more complex and investors are seeking greater yields, the 144a catastrophe bond market is on track for a record issuance year in 2021. In the first six months of the year, USD 7.9 billion in new bond issuance entered the market, via 27 unique transactions for 26 different sponsors. First-time sponsors include reinsurers, Florida ... Continue Reading »
Property
Nicholas Category-1 Texas Landfall, Atlantic Tropics Active Midway through the Season
Key Headlines Hurricane Nicholas: Nicholas was the fifth Atlantic storm to rapidly intensify before making landfall as a minimal category-1 strength hurricane with maximum sustained winds of 75 mph. Only 1995 had more events rapidly intensify this early in the season. The most important headline on Nicholas is life threatening and dangerous inland flooding. Observed ... Continue Reading »
Balancing Act: Reinsurance Market to Balance Abundant Capital, Pricing Discipline
In this interview with The Insurer, Charles Whitmore, President, Global Accounts, Guy Carpenter, discusses how buyers can look forward to a healthy reinsurance market while carriers will be focusing on pricing priorities, and terms and conditions. ... Continue Reading »
(Re)insurance Industry Continues To Demonstrate Resilience in Challenging Market
The convergence of tangible and intangible challenges facing the (re)insurance industry is creating one of the most dynamic and potentially volatile environments in recent market history, yet (re)insurers continue to demonstrate their resilience through their ability to adapt and respond. This is according to panelists at a recent virtual media briefing, Moving Forward, hosted ... Continue Reading »
Chart: Surety Results Remain Relatively Stable Over Time
Surety industry underwriting results have remained relatively stable since 2005. Loss activity spiked in the early 2000s, leading to combined ratios ranging between 124 percent in 2001 and 117 percent in 2004 (see Figure 1). Factors contributing to the high combined ratios in the early 2000s included sharply increased competition in the surety sector in the late 1990s, higher ... Continue Reading »
M7.0 Acapulco, Mexico Earthquake Rattles Guerrero State to Mexico City
Key Headlines Significant earthquake (Mw7.0 USGS; M7.1 Mexico SSN) on the Middle America subduction zone near Acapulco, Mexico occurred in the evening of September 7th (20:47 local time): Earthquake epicenter was approximately 21 km (13 mi) from Acapulco, Guerrero, Mexico. The 20 km depth is consistent with subduction interface events and the earthquake occurred ... Continue Reading »
Flood Risk Index Provides Global Overview
The Marsh McLennan Flood Risk Index provides key information on the likelihood, vulnerability and severity of flood exposure for countries throughout the world. It is accessible through a highly intuitive navigator that visualizes the results on an interactive world map. The index makes it easy to compare scores between two countries, one country and the world average, and ... Continue Reading »
Video: The State of Wildfire Resilience
This year’s season for wildfires is shaping up to be even more devastating than those of recent years. With reduced humidity, increasing drought and strong winds, how can we build better resiliency? Sydney Hedberg, Associate Director, Marsh McLennan Advantage; Andy Read, Vice President, Public Sector Practice, Guy Carpenter; and Sydney Chamberlin, Climate Policy Associate, ... Continue Reading »
Live Event: Ida Hits Eastern U.S. with Extreme Flooding and Severe Thunderstorm Activity
Live Event: Ida Hits Eastern U.S. with Extreme Flooding and Severe Thunderstorm Activity Key Ida Headlines Exceptional Mid-Atlantic Flooding: Both in terms of hourly rainfall rates as well as daily rainfall totals, Ida brought extreme, and in some cities, record setting rainfall to the Mid-Atlantic yesterday. Wide swaths of Pennsylvania, New Jersey, New York and ... Continue Reading »
Video: Public-Private Partnerships Play Key Role in Tackling Climate Risk
In this video, Josh Darr, Managing Director, Head of North America Peril Advisory for Guy Carpenter, talks about the need for a high-profile champion within the federal government to address climate-related market risks, and the progress we are seeing in this area. ... Continue Reading »
