Guy Carpenter
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A US landfall is not expected, but the storm could hit the Bahamas by Friday. -
EMEA CEO Laurent Rousseau said reinsurance must retain its relevance to investors.
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Nick Fallon is the latest in a string of retro-broker moves in the market.
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The trend for private credit in alternative asset management is “set to continue”.
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Matthew Flynn joins from RenaissanceRe.
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In the US, the index fell 6.7% year on year.
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A group of Bermuda staff also left the broker.
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The Bermuda-based team is led by John Fletcher.
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The headcount at the start-up now stands at around 40.
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The catastrophe bond comes after the issuance of a Mayflower Re bond last year.
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His leadership roles included overseeing the firm’s capital solutions group.
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The terrorism pool has shifted its programme from facultative to an XoL arrangement.
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Guy Carpenter said personal lines exposure would account for 85% of the aggregate loss.
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The broker estimated ILS capital has reached $107bn.
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Magnani has served for more than 14 years in ILS broking roles.
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The panelists discussed the ILS reset and the path to maintaining discipline in this sector.
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Francine has been the eighth Category 2 or larger storm to make landfall in Louisiana since 2000.
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Demand for peak peril retro increased significantly in Q2 2024.
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The broker said it expects strong ILS capital inflows to continue.
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Sources said Guy Carpenter has promoted Jennifer Paretchan to succeed Mowery.
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The broker said less than 1% of companies globally with cyber insurance were impacted.
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The rise is equal to 5%-10% of catastrophe capacity purchased, including cat bonds, depending on region.
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Two-thirds of Guy Carpenter’s clients bought more coverage in H1.
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The flattish outcome comes after a larger year-on-year hike in January.
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Excess capacity rebounded in June 2023 after hitting a decade-low just 12 months earlier.
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Revenue, country and industry sector drive modelled output divergence.
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The executive joins the company as it looks to bolster its reinsurance capabilities.
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European rates on line increased by 7.60%, while in the US prices were up 5.25%.
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Broker-dealers' year-ahead forecasts have undershot total final issuance in three of the last five years.
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GC Securities is the sole structuring agent and sole bookrunner on the deal.
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A strong outlook for sidecar profits in 2023 is rebuilding investor confidence but one to three years of good performance will be needed to sustain it more fully.
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Lloyd’s CFO Burkhard Keese, speaking at Guy Carpenter’s Baden-Baden Symposium, said there are $500mn-$1bn of London Bridge deals in the pipeline.
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Top-layer cat risk is attracting additional capacity but reinsurers remain firm on attachment points, the broker said.
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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.
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The supply-demand dynamics are all pointing in ILS markets’ favour, so long as hurricane season goes quietly.
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Reinsurance underwriting discipline will not subside even as reinsurers’ willingness to deploy capital increases, the broker said.
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The reinsurance broker said the losses will fall on the higher end of industry loss ranges.
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Total reinsurance capital will climb to $560bn, ahead of last year but behind the 2021 peak of $570bn.
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Greg McBride joins the firm after nearly 18 months at Mt Logan Re.
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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.
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Loss-free accounts were generally up 20%-50% at renewal, the reinsurance broker said.
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A Guy Carpenter report recently noted that risk models are converging for the most remote risk levels.
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The broker named Matthew McCabe as MD of cyber broking with a brief to tackle complex cyber issues.
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The structure envisages bringing in philanthropic capital to provide project funding to mitigate disaster risk as part of ILS deals.
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The executive will report to president and CEO Dean Klisura.
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Analysis showed a modelled loss range of between $15.6bn and $33.4bn for a 1:200-year global loss event.
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The cat bond market is thought likely to receive an outsized portion of any capital inflows.
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The broker said this was not yet a settled market as work remained underway.
