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.
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
AkinovA completes cyber parametric trade with Hiscox & GC
9th January 2020
AkinovA, the electronic marketplace for the transfer and trading of re/insurance risk, has completed its first cyber parametric instrument trade. Hiscox developed, structured and provided capital for this transaction, with Guy Carpenter (GC) acting as broker and PCS as the reporting agent. The deal was carried out electronically with regulatory oversight from ... Read the full article
Reserve deterioration a potential inflection point in 2020: GC’s Whitmore
8th January 2020
Ongoing challenges associated with reserve deterioration in the re/insurance industry represent a potential inflection point that demands close attention moving into 2020, according to Charles Whitmore, managing director at Guy Carpenter. Speaking at a lecture in Lloyd’s Old Library building, Whitmore described the issue as something spreading - accelerating, even - ... Read the full article
Jeff Saper promoted to CEO, Pacific at Guy Carpenter
6th January 2020
Reinsurance broker Guy Carpenter, part of Marsh & McLennan Companies, has named a new Chief Executive Officer (CEO) for the Pacific region, promoting Jeff Saper to the role. Saper is a long-time Guy Carpenter employee in the Australia and Pacific region, having joined the company in 1999 and working there for ... Read the full article
“Asymmetrical” renewal reflects ample capital supply: Guy Carpenter
3rd January 2020
Levels of available reinsurance capital continued to exceed demand at the January 1, 2020 renewals, according to analysts at Guy Carpenter, meaning rate increases only materialised in the most constrained areas of the market. The reinsurance broker said that the loss environment and shifting views of risk had been crucial factors ... Read the full article
Patrick Schepens to take over as CEO of the Benelux region, Guy Carpenter
24th December 2019
Global reinsurance broker Guy Carpenter has announced the appointment of Patrick Schepens as Chief Executive Officer (CEO) of the Benelux region, effective April 2020. In his new role, Schepens will be based in Brussels and will take responsibility for all of the company's activities in the Benelux region. At the same ... Read the full article
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