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.
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
Total reinsurance capital up almost 3% to $534bn in 2021: Guy Carpenter
4th January 2022
Total dedicated reinsurance capital increased by 2.8% from the end of 2020 to end 2021 at $534 billion, driven by growth in both traditional and alternative capital, according to reinsurance broker Guy Carpenter and ratings agency, AM. Best. The almost 3% growth in dedicated reinsurance capital from the $519 billion reported ... Read the full article
January renewals reflect “healthy but bifurcated” reinsurance market: Guy Carpenter
3rd January 2022
The January 1st 2022 reinsurance renewal season saw conditions that reflect a "healthy but bifurcated" reinsurance market, according to global broking firm Guy Carpenter. The reinsurance market is evolving, Guy Carpenter says, evidenced by reinsurers adjusting their risk appetites and pricing thresholds for certain sectors, as they respond to ongoing and ... Read the full article
Guy Carpenter to combine UK & Europe fac operations
24th December 2021
Reinsurance broker Guy Carpenter has announced plans to combine its Continental European and UK facultative operations into a single division, which will be led by Nicola Fraccalvieri. Effective 1 January 2022, this consolidated structure will bring together Guy Carpenter's London Europe Property and Casualty business and Continental Europe Facultative teams under ... Read the full article