Guy Carpenter

The broker studied the impact of 14 major cyber events in its attempt to dispel ILS manager fears of a ‘double whammy’ cyber event that would also impact financial markets.

The supply-demand dynamics are all pointing in ILS markets’ favour, so long as hurricane season goes quietly.

Reinsurance underwriting discipline will not subside even as reinsurers’ willingness to deploy capital increases, the broker said.

The reinsurance broker said the losses will fall on the higher end of industry loss ranges.

Total reinsurance capital will climb to $560bn, ahead of last year but behind the 2021 peak of $570bn.

Greg McBride joins the firm after nearly 18 months at Mt Logan Re.

Reinsurers are less worried about their property books compared to last year, and eyeing development of casualty loss costs due to social and macroeconomic inflation.

Loss-free accounts were generally up 20%-50% at renewal, the reinsurance broker said.

A Guy Carpenter report recently noted that risk models are converging for the most remote risk levels.

The broker named Matthew McCabe as MD of cyber broking with a brief to tackle complex cyber issues.

The structure envisages bringing in philanthropic capital to provide project funding to mitigate disaster risk as part of ILS deals.

The executive will report to president and CEO Dean Klisura.