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.
Lara Mowery to join Gallagher Re from Guy Carpenter
15th August 2024
Global reinsurance broker Gallagher Re has confirmed that Guy Carpenter's Global Head of Distribution, Lara Mowery, is joining the firm in a senior role. Mowery joined Guy Carpenter, the reinsurance broking arm of Marsh McLennan, in 1997 to lead the firm's global property reinsurance business. Most recently, she worked as Guy Carpenter's ... Read the full article
While reinsurance appetite increases, ILS investors appetite in wildfire-exposed transactions remains moderate: GC
14th August 2024
As the California property market experiences a dynamic and challenging time, it faces an escalating risk of wildfires, a peril that needs multiple perspectives in order to understand it, experts stated during Guy Carpenter's recent California Summit event. During the event it was also noted that while reinsurance appetite has increased ... Read the full article
Guy Carpenter appoints Lisa Tolaini as General Counsel
6th August 2024
Lisa Tolaini has been appointed General Counsel of Guy Carpenter, the reinsurance broking division of Marsh McLennan (MMC). Based in London, Tolaini has been with Marsh McLennan for over 13 years, having most recently served as General Counsel, UK and International, a role she held from March 2023 until August 2024. Prior ... Read the full article
CrowdStrike event insured loss to fall between $300m & $1bn: Guy Carpenter
2nd August 2024
Insured losses from the CrowdStrike-linked global IT outage will fall between $300 million and $1 billion, as per a new report from Guy Carpenter. For those unaware, On July 19, CrowdStrike, a leading cybersecurity technology provider, released a "Rapid Response Content" update to its EDR tool named Falcon, sitting on Microsoft ... Read the full article
Guy Carpenter appoints Justin Ward as MD, Head of Capital Advisory (APAC)
1st August 2024
Guy Carpenter, the reinsurance broking division of Marsh McLennan (MMC), has recently appointed Justin Ward as Managing Director, Head of Capital Advisory for the Asia Pacific (APAC) region. In his new role, Ward will be based in Singapore. With over 20 years of experience in the industry, Ward is a valuable addition ... Read the full article
Up to $40bn of additional property cat reinsurance purchased in H1: Guy Carpenter
30th July 2024
Reviewing buying activity from January through July 2024, Guy Carpenter has estimated that approximately $35 billion - $40 billion of additional property catastrophe limit has been purchased worldwide, driven by favourable conditions. According to a recent report from the firm, this increase generally represents 5% to 10% of catastrophe capacity purchased. "By the ... Read the full article
GC’s Laurent Rousseau joins Cytora’s global advisory board
23rd July 2024
Cytora, the digital risk processing platform, has bolstered its global advisory board with the addition of industry veteran Laurent Rousseau, Guy Carpenter CEO of EMEA and Global Capital Solutions (part of Marsh McLennan). A renowned figure across the sector, Rousseau joined Guy Carpenter in June 2023, following a near 13-year ... Read the full article
CrowdStrike event may impact product lines beyond cyber insurance: Guy Carpenter
22nd July 2024
Experts at the reinsurance broking arm of Marsh McLennan (MMC), Guy Carpenter, have said that while business interruption losses will be in scope for re/insurers, the magnitude of last week's global IT outage suggests that lines of insurance beyond cyber risk might also be impacted. After a software update for CrowdStrike's ... Read the full article
Increased demand & appetite, but there’s caution in the property reinsurance market: Klisura, GC
18th July 2024
The property catastrophe reinsurance market is much more predictable and smooth than it was a year ago, and while there's been a notable increase in demand for protection from clients, the potential for another year of $100 billion+ in insured natural catastrophe losses means there's caution in the marketplace, according ... Read the full article
Guy Carpenter sees 10% revenue increase in Q2’24
18th July 2024
The reinsurance broking arm of Marsh McLennan (MMC), Guy Carpenter, generated revenue of $632 million in the second quarter of 2024, an increase of 10%, or 11% on an underlying basis, contributing to another strong quarter for one of the world's largest re/insurance brokers. Guy Carpenter sits within MMC's Risk & ... Read the full article
Guy Carpenter launches new parametric flood re/insurance mechanism, GC FloodShield
15th July 2024
Guy Carpenter is launching a new parametric flood re/insurance mechanism that provides customised flood coverage based on hazard footprints obtained in near real-time. According to Guy Carpenter, GC FloodShield boasts a broad application available to insurers, reinsurers, corporations and public entities globally. As mentioned, GC FloodShield is also customisable, reportedly offering a ... Read the full article
Businesses must do better to understand complexity of Business Email Compromise: GC
10th July 2024
Business Email Compromise (BEC), a form of phishing that involves attackers manipulating individuals into unintentionally facilitating fraudulent activities, an often overlooked cyber threat, is considered to be one of the most financially damaging cyber threats across the sector, according to Guy Carpenter, the global risk and reinsurance specialist and business ... Read the full article
Guy Carpenter’s US ROL Index up by 1.2% in 2024 amid decreased pricing at mid-year renewals
8th July 2024
Reinsurance broker Guy Carpenter's U.S. Property Catastrophe Rate-On-Line (ROL) Index is now up by just 1.2% in 2024, reflecting a deceleration of rate increases at the mid-year renewals following the highs of last year. While still up by 1.2% after the July renewals, the generally flat to slightly down rate environment ... Read the full article
Proactive sellers, deeper dialog contributed to a healthier mid-year renewals: Mowery, GC
8th July 2024
Reinsurers were more proactive when exploring ways to deploy capacity at the mid-year 2024 renewals, which, together with greater depth of data and detailed dialog between buyers and sellers, made for a healthy marketplace, according to Lara Mowery, Head of Distribution, Guy Carpenter. Reinsurance News spoke with Mowery soon after the ... Read the full article
Rates down 10%+ for some upper layers of property placements at mid-year renewals: GC
3rd July 2024
Reinsurance broker Guy Carpenter's mid-year reinsurance renewal report reveals that some upper layers of property placements saw risk-adjusted decreases of 10% or more for accounts without loss impacts. However, the broker finds that mid-year 2024 global property catastrophe reinsurance risk-adjusted rates were generally flat to mid-to high-single digits. The report noted that ... Read the full article
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