Amtrak is getting $275 million of reinsurance protection from the capital markets for its wholly owned captive, covering storm surge, wind and earthquake perils, according to GC Securities. GC Securities, the capital markets arm of reinsurance broker Guy Carpenter, announced …
Contamination from chemicals is likely to increase the cost to insurers of last month’s blasts in the Chinese port of Tianjin, costs which are already expected to exceed $3 billion, insurance specialists say. While Chinese insurers are likely to bear …
A report published by Guy Carpenter & Co., released Sept. 2015, identified four key areas of emerging risk for re/insurers: cyber risk, technology risk, casualty catastrophe and reserving, and life, health and longevity risk. In the report, titled “A Clearer …
Challenging market conditions due to abundant capacity, the ongoing influx of new capital and limited loss experience, continue to put pressure on the reinsurance sector, while recent M&A activity is adding a new dynamic to the mix. These were the …
The world’s largest reinsurers and brokers see little relief in pricing in 2016 amid a relentless influx of alternative capital from pension funds and one of the past decade’s quietest years for catastrophe losses. Rates for property-and-casualty reinsurance are expected …
The two massive explosions which hit China’s Port of Tianjin last month could generate insurance losses of up $3.3 billion, according to a report published by Guy Carpenter. The report estimates damages between $1.6 billion and $3.3 billion, which could …
El Niño years bring disruptive weather, such as floods and drought, but have an added benefit of leading to fewer than average tropical cyclone landfalls, according to predictions issued by the Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC). As a …
Guy Carpenter & Company announced that Paul Summers will be joining the company as managing director and head of International Facultative Reinsurance, following completion of his current contractual notice period. He will assume this role from Massimo Reina, who will …
After two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June renewals. Reinsurance broker Guy Carpenter & Co. reported that the price declines are averaging in the high single …
Marsh & McLennan Companies Inc. announced that Peter Zaffino, president and CEO of Marsh, has been appointed chairman of the company’s Risk & Insurance Services segment, which includes Marsh and Guy Carpenter. Zaffino will continue to serve as president and …
