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.
Reinsurers refining Florida portfolios on new view of risk: GC
22nd June 2020
Analysts at Guy Carpenter have noted that there was significantly less deployable capital at the Florida renewals this year, as reinsurers were already refining their portfolios for the state based on a new “view of risk.” The broker noted that the June 1 renewal was the “first genuine test” of the ... Read the full article
The real story of US flood is the lack of insurance take-up: Clark, Guy Carpenter
4th June 2020
Too often, the story around U.S. flood risk focuses on FEMA and what the entity either isn’t doing right or could be doing better, when the real story is the dangerously low levels of flood insurance penetration, according to Jonathan Clark of Guy Carpenter. Clark, who leads the Public Sector division ... Read the full article
GC bolsters terrorism modelling capabilities with Synthetik partnership
2nd June 2020
Guy Carpenter, the reinsurance specialist arm of Marsh & McLennan Companies, has entered into an exclusive multi-year agreement with Synthetik to help enhance its proprietary terrorism modeling product, Sunstone. Synthetik is an applied technology and engineering company that specialises in explosive blast and weapons effects modeling. Synthetik has collaborated with Guy Carpenter ... Read the full article
Guy Carpenter launches Philippines Flood Model
14th May 2020
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, has announced the launch of its new probabilistic flood model for the Philippines. The Philippines Flood Model provides countrywide coverage and enables insurers to assess exposure for one of the most common natural hazards in the region. Guy Carpenter’s model is ... Read the full article
Marsh & McLennan grows Q1 income, helped by Guy Carpenter
30th April 2020
Marsh & McLennan Companies, Inc. (MMC) has reported a 5% increase in net income during the first quarter of 2020, despite pressure from the coronavirus (COVID-19) pandemic. Income stood at $754 million at the end of Q1, compared with $716 million for the same period last year. Consolidated revenue similarly increase ... Read the full article
GC climate report questions “culture of reliance” on state aid
20th April 2020
A report by re/insurance broker Guy Carpenter has questioned the “culture of reliance” on state assistance for disaster relief, which has emerged as governments increasingly bear the costs of climate change. Guy Carpenter noted that climate change is exacerbating the challenges faced by governments, with natural catastrophes becoming more frequent and ... Read the full article
Erosion of insurance contract rights bad for the economy: Priebe, Guy Carpenter
16th April 2020
Any erosion of insurance contract rights, through the honouring of claims where coverage was never intended, or refusal of claims that should have been covered, would be bad for the economy as a whole, Guy Carpenter's Chairman David Priebe explained to us. In a wide-ranging interview, Priebe said that it remains ... Read the full article
Mid-year renewals expected to be on-time: Priebe, Guy Carpenter
14th April 2020
The mid-year reinsurance renewals at June and July 1st 2020 are expected to proceed without any major issues due to the COVID-19 pandemic, as the industry prepares to negotiate via video conference, David Priebe, Chairman of Guy Carpenter told us. Speaking with Reinsurance News, the Chairman of reinsurance broker Guy Carpenter ... Read the full article
Guy Carpenter adds Vijaya Singh as global marketing, comms head
8th April 2020
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, has announced the appointment of Vijaya Singh as global head of marketing and communications. Singh joins from global executive search and leadership advisory firm Russell Reynolds Associates, having served as global head of external marketing and public relations. Prior to her ... Read the full article
Guy Carpenter partners with insurtech RiskGenius on silent cyber
25th March 2020
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, Inc., has entered into a strategic partnership with RiskGenius on the detection and qualitative analysis of silent cyber exposure. RiskGenius is an insurtech firm that utilises artificial intelligence to evaluate emerging risks across insurance portfolios. By working with RiskGenius, Guy Carpenter ... Read the full article
Guy Carpenter hires Williams from AIG as Global Head of Client Support Services
25th March 2020
Reinsurance broker Guy Carpenter has hired an AIG alum as its new Global Head of Client Support Services, appointing George Williams to the role, who was most recently COO of General Insurance North America at the insurance firm. Williams has been appointed as Managing Director, Global Head of Client Support Services ... Read the full article
Guy Carpenter opts for modelling suite from KCC
24th February 2020
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, Inc., has agreed to license the catalogue of natural catastrophe models, execution software and analytics from risk modeller Karen Clark and Company (KCC). This multi-year agreement will provide Guy Carpenter’s clients with access to KCC’s suite of natural peril models, ... Read the full article
Guy Carpenter helps Marsh & McLennan to overall revenue growth in Q4
30th January 2020
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, Inc., has recorded revenue growth of 10% and 5%, on an underlying basis, for the fourth-quarter and full-year 2019, respectively. The reinsurance broker's revenue in the quarter increased to $152 million from the $102 million reported a year earlier. For ... Read the full article
Hiscox comments on new cyber parametric transaction
21st January 2020
Specialist re/insurer Hiscox has released a statement commenting on its recent cyber parametric risk transfer deal, which was completed with help from Guy Carpenter and PCS. Announced earlier this month, the trade was transacted electronically on the AkinovA marketplace, with full regulatory oversight from the Bermuda Monetary Authority (BMA). The product ... Read the full article
Casualty market pressures see capacity tighten at 1/1: Guy Carpenter
17th January 2020
Casualty reinsurance capacity tightened at the recent January renewals against a backdrop of heightened litigation costs, more generous jury verdicts, and shifting attitudes in the US, according to Guy Carpenter. Analysts noted that many reinsurers were forced to adopt more cautious underwriting positions at 1/1 due to higher loss cost trends, ... Read the full article
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