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.
COVID “occurrence” ruling could confuse reinsurance response: GC
3rd March 2021
Analysts at Guy Carpenter (GC) have argued that the definition of a COVID “occurrence” under the recent ruling by the UK Supreme Court could “confuse the conversation around reinsurance responses to COVID losses.” In January, the legal verdict on the FCA’s pandemic business interruption (BI) test case was that some forms ... Read the full article
Aon secures ARPC account from Guy Carpenter
17th February 2021
The Australian Reinsurance Pool Corporation (ARPC), Australia's government-led terrorism reinsurance agency, has named Aon as its reinsurance broker. The new agreement see’s Aon beat rival Guy Carpenter to the contract. Guy Carpenter had previously served the role. Mike Pennell PSM, ARPC’s Chief Underwriting Officer will oversee the transition-in and commencement of broking ... Read the full article
Lloyd’s report highlights risk of cyber-attacks on the industrial sector
16th February 2021
Lloyd’s has partnered with cyber analytics specialist CyberCube and reinsurance broker Guy Carpenter on a new report examining the increasing risk posed by ‘Internet of Things’ devices to industrial and manufacturing businesses. The three firms conducted an analysis detailing scenarios which represent the most plausible routes by which a cyber-attack against ... Read the full article
Guy Carpenter growth buoys Marsh & McLennan results
28th January 2021
Marsh & McLennan Companies, Inc. (MMC) has reported full-year revenue growth of 3% over 2020, helped by revenue growth of 7% in its reinsurance broking arm, Guy Carpenter. MMC’s revenue for Q4 was $4.4 billion, bringing its total for the year to $17.2 billion. This compares with revenue of $4.3 billion ... Read the full article
Casualty renewals see underwriting tighten against stress factors: GC
21st January 2021
Reports from re/insurance broker Guy Carpenter (GC) show that casualty reinsurance renewals varied widely at January 1, 2021, with negotiations influenced by individual circumstances such as loss experience, covered lines and classes written. But despite this divergence, analysts believe that every placement experienced some degree of continued reinsurance underwriting rigor. This trend ... Read the full article
Overall cat bond offerings at 1/1 continued to attract significant capital: GC
11th January 2021
Guy Carpenter analysts have reported that overall catastrophe bond offerings during the recent Janurary renewals continued to attract significant capital, while syndicated sidecar and collateralised reinsurance strategies experienced limited new inflows of capital. January 1 allocations were said to have been complicated by Covid-driven year-end loss reserve “buffering” and a high ... Read the full article
Ample capital levels moderated price increases at Jan 1: Guy Carpenter
5th January 2021
With reinsurers eager to deploy capacity in various sectors and capital levels high at the important January 1st, 2021 reinsurance renewals, price increases were more moderate than initial expectations, according to Guy Carpenter, the reinsurance broking arm of Marsh. On the back of a prolonged soft market state, the lower for ... Read the full article
Ben Keslowitz to lead Guy Carpenter’s US Life Reinsurance business
8th December 2020
Guy Carpenter, the reinsurance broking arm of Marsh, has announced the appointment of Benjamin Keslowitz to the newly created role of US Life Leader, effective immediately. In his new role, Keslowitz will have a focus on delivering the full range of Guy Carpenter's risk and capital solutions to clients and prospects ... Read the full article
Guy Carpenter names Pietro Toffanello as Head of Japan
7th December 2020
Guy Carpenter, the global reinsurance broking arm of Marsh, has announced the appointment of Pietro Toffanello, formerly of Gen Re, as Head of Japan, effective Q1 2021. In his new role, Toffanello takes on responsibility for managing the broker's business activities across Japan, reporting to Tony Gallagher, Chief Executive Officer (CEO) ... Read the full article
Guy Carpenter names Aon’s Shephard as Head of GC Access, International
3rd December 2020
Reinsurance broker Guy Carpenter has appointed Miles Shephard, formerly of Aon, as Managing Director and Head of GC Access, International, effective October 2021. GC Access is the reinsurance broker's dedicated program business unit, focused solely on the development of fully optimised program solutions that connect MGAs and carriers. In his new role, ... Read the full article
Uncertainty diminishing ahead of “complex” 1/1 renewals: GC
30th November 2020
Guy Carpenter (GC), the reinsurance arm of global brokerage Marsh, has warned that the upcoming January 2021 renewals will be uniquely “complex” due to the manifold challenges in the market this year. However, the broker added that re/insurers seem “ready to respond” to these complexities, and noted that some areas of ... Read the full article
We need to learn to adapt, says Flood Re’s Andy Bord
30th November 2020
Andy Bord, Chief Executive Officer of Flood Re, the UK government backed flood insurer, has called for a review on how policies and flood models are managed. He believes that a more all-encompassing approach to flood risk management will become more effective flood defences and into the wider built environment. Controlling flood ... Read the full article
Guy Carpenter launches new Vietnam flood model
10th November 2020
Guy Carpenter, the reinsurance arm of global brokerage Marsh, has announced the launch of its new flood model for Vietnam. The probabilistic model will provide full national coverage and help re/insurers to assess their exposure to floods – a peril that affects 70% of the population in Vietnam. The Guy Carpenter Vietnam ... Read the full article
Guy Carpenter launches new Marine & Energy division
2nd November 2020
Guy Carpenter, the reinsurance arm of global brokerage Marsh, has announced the launch of a new Marine & Energy mutual, agency and captive reinsurance solutions practice. The practice, which forms part of Guy Carpenter’s Global Marine & Energy Specialty group, will be led by Managing Director Demian Smith. Guy Carpenter’s aim is ... Read the full article
MMC’s Q3 operating income up 15%
29th October 2020
Marsh & McLennan Companies, Inc. (MMC), a global insurance and reinsurance brokerage, has announced consolidated revenue of $4 billion for the third-quarter of 2020, while underlying revenue fell by 1% when compared to the same period in 2019. Operating income spiked to $540 million from $467 million in the prior year ... Read the full article
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