Reinsurance News
Guy Carpenter news
News on Guy Carpenter, one of the world’s leading reinsurance brokers and part of the Marsh & McLennan group of companies.
News on Guy Carpenter’s activities in reinsurance and insurance-linked securities markets, as a broker, originator, adviser and structurer of reinsurance risk transfer transactions.
Reinsurance environment is “truly changing”: GC’s David Priebe
7th September 2022
David Priebe, Chairman of reinsurance broker Guy Carpenter, has asserted that the reinsurance industry is “truly changing” in response to the multitude of challenges it has faced this year. Currently speaking as part of an ongoing virtual media briefing on ‘Materializing Possibilities’, the GC Chairman stressed that the reinsurance industry must ... Read the full article
US property cat reinsurance rates up by 15% in 2022: Guy Carpenter
25th July 2022
So far this year, property catastrophe reinsurance rates-on-line in the U.S. have risen by almost 15%, representing the largest increase in the Guy Carpenter U.S. Property Catastrophe Rate on Line Index since 2006. Reinsurance broker Guy Carpenter's index is a proprietary index of U.S. property catastrophe reinsurance rate-on-line movements, so ... Read the full article
H1 2022 “most challenging property market for years” – Klisura, Guy Carpenter
25th July 2022
The first half of 2022 was “the most challenging property market we have seen in a number of years”, according to Dean Klisura, President and Chief Executive Officer of Guy Carpenter. Speaking during Marsh McLennan’s Q2 2022 earnings call, he said that US property catastrophe rates have ... Read the full article
Guy Carpenter sees 9% revenue growth in Q2 as Marsh McLennan reports ‘another strong quarter’
21st July 2022
Consolidated revenue at Marsh McLennan increased by 7% in the second-quarter of 2022 when compared with the previous year, supported by strong growth across the business, including at Guy Carpenter, the reinsurance arm of the global brokerage. Overall, insurance and reinsurance broker Marsh McLennan has reported revenue of $5.4 billion for ... Read the full article
California Earthquake Authority adds TigerRisk to reinsurance broker panel
6th July 2022
The California Earthquake Authority (CEA), one of the world's largest insurers of residential earthquake cover, has added TigerRisk Partners as an additional reinsurance broker to its panel of providers. Given the size of the CEA's reinsurance needs, around $9 billion, the insurer utilises multiple reinsurance brokers to help it in facing ... Read the full article
Guy Carpenter promotes Petka & Underwood within GC Access
23rd May 2022
Reinsurance broker Guy Carpenter has named Matt Petka as President of GC Access North America and Branch Manager of the firm's Dallas office, as Riley Underwood takes over as Head of Client Solutions for GC Access, effective immediately. Guy Carpenter launched its GC Access unit in 2020 to provide dedicated ... Read the full article
Guy Carpenter’s revenue jumps 11% in the first-quarter of 2022
21st April 2022
Marsh McLennan's (MMC) reinsurance broking arm, Guy Carpenter, has reported an 11% rise in underlying revenue in the first-quarter of 2022 to $999 million, as its parent reports consolidated revenue of $5.5 billion for the period. Revenue growth at Guy Carpenter supported total Q1 2022 revenue of $3.5 billion within MMC's ... Read the full article
Guy Carpenter appoints Enoizi as global head of public sector
30th March 2022
Global reinsurance broker Guy Carpenter has appointed Julian Enoizi as global head of public sector. The firm said that the position would become effective on 11 April. Enoizi will be responsible for driving the company’s growth strategy. He will work with the global team to identify opportunities to address systemic risks, such ... Read the full article
Rate increases persist, reflecting losses and low returns: Marsh McLennan CEO
31st January 2022
In the property and casualty (P&C) insurance market, rate increases have persisted and reflect elevated losses, low returns, concerns about inflation, and a firming reinsurance market, reported Dan Glaser, President and Chief Executive Officer (CEO) at Marsh McLennan (MMC). During the broker's Q4 earnings call, he explained that the Marsh Global ... Read the full article
Guy Carpenter contributes to strong revenue growth at Marsh McLennan
27th January 2022
Global insurance broker Marsh McLennan has reported "one of the finest results" in its history with underlying revenue growth of 10% for both the fourth quarter and full year 2021, supported by 5% growth at Guy Carpenter, its reinsurance arm. Year-on-year, consolidated revenue increased by 16%, or 10% on an underlying ... Read the full article
Aviation reinsurance market unaffected by COVID at renewals: GC
10th January 2022
Analysts at Guy Carpenter have reported that the general aviation and aerospace markets remained “relatively unaffected” by COVID-19 at the January 1, 2022 renewal period. After two years of increases in these markets, the broker reported that reinsurers priced as before or slightly higher (up 2.5%) as an average across programs ... Read the full article
Guy Carpenter Bermuda promotes Jenni Estis to Managing Director
7th January 2022
Reinsurance broker Guy Carpenter Bermuda, part of Marsh McLennan, has promoted Jenni Estis to Managing Director. Having joined Guy Carpenter in 2002, Estis has previously worked in the Guy Carpenter London office as well as on the North American wholesale team. Her broking responsibility includes servicing retrocessional clients and placing property business ... Read the full article
Material variances, but property retro prices rise at Jan renewals: GC
7th January 2022
With 2021 being affected by catastrophe events, property retrocession renewals experienced price increases in both aggregate and occurrence products at 1/1, according to reinsurance broker Guy Carpenter. As expected, the largest changes were in loss-affected accounts as well as low-lying aggregate placements following reductions in available capacity, says Guy Carpenter. The broker ... Read the full article
Price increases top 30% on some loss-impacted lines at 1/1: GC
5th January 2022
Analysts at Guy Carpenter have observed reinsurance pricing increases of over 30% on some loss-impacted business at the crucial January renewal period. The broker’s Global Property Catastrophe Rate-on-Line Index increased 10.8% year-on-year, and found that structure adjustments, particularly on retentions, were more prevalent in heavier loss-impacted sectors. While pricing exhibited a wide ... Read the full article
Positive casualty rate movement factored heavily into renewal outcomes: Guy Carpenter
5th January 2022
Continued positive underlying rate movement across casualty lines factored heavily into renewal outcomes, as prospective loss ratios showed continued improvement, according to Guy Carpenter in a new report. The global broking firm believes that the improvements have driven quota-share ceding commission increases, ranging from flat to up 1.5 points for excess ... Read the full article
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