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Guy Carpenter
Why your reinsurance bills are up this year
January 3, 2023 Alyssa Di SabatinoJanuary 1 reinsurance renewals are proving to be “one of the most challenging reinsurance markets” the insurance sector has experienced, says Guy Carpenter, a Marsh McLennan global risk and reinsurance specialist firm. Property insurers in particular can expect rates to escalate due…
Why reinsurers are watching how UK top court defined ‘occurrence’ in business interruption dispute
March 2, 2021 by Greg MeckbachThe British Supreme Court’s interpretation of the word “occurrence,” in its recent COVID-19 business interruption ruling, should not be applied to reinsurance excess of loss treaties, Guy Carpenter experts argue in a recent paper. In a decision released on Jan.…
Big Moves: New CEO at Guy Carpenter Canada
October 19, 2020 Canadian Underwriter StaffPeter Askew succeeds Donald Callahan as president and CEO of the Canadian operations of Guy Carpenter, Marsh & McLennan’s reinsurance arm
Underlying revenue up 3% at Marsh
October 31, 2017 by Canadian UnderwriterMarsh & McLennan Companies Inc. recently announced a 9% increase in revenue at its commercial brokerage subsidiary while total risk and insurance services revenue increased from $1.632 billion in the third quarter of 2016 to $1.752 billion in the three months…
Economic and market headwinds may challenge profitable growth for U.S. insurers: Guy Carpenter
October 18, 2017 by Canadian UnderwriterWhile the insurance industry in the United States is well-capitalized and market sentiment is mostly positive, there is still evidence of economic and market-based headwinds that will challenge profitable growth, a new report from Guy Carpenter has suggested. In the…
U.S./Canada division of Marsh sees revenues increase to US$850 million in Q2 2017 from US$804 million in Q2 2016
July 28, 2017 by Canadian UnderwriterRevenue for the United States and Canada division of Marsh increased to US$850 million in the second quarter of 2017 from US$804 million in the same quarter last year, Marsh & McLennan Companies (MMC) reported on Thursday. MMC, whose companies…
Hannover Re, Guy Carpenter place $960 million worth of ILS transactions in three U.S. states
July 12, 2017 by Canadian UnderwriterHannover Re announced Wednesday it has completed three insurance-linked securities transactions, through Marsh and McLennan Companies Inc.’s GC Securities unit, with a total value of $960 million. All figures are in United States dollars. Hannover Re said it transferred $750…
GC Securities completes “first ever indemnity triggered multi-Europe peril only” cat bond
July 10, 2017 by Canadian UnderwriterGC Securities – a division of U.S. registered broker-dealer MMC Securities LLC, a subsidiary of Marsh & McLennan Companies, Inc. (MMC) – has announced the “first ever indemnity triggered multi-Europe peril only 144A catastrophe bond.” The placement of Principal At-Risk…
Marsh & McLennan Companies appoints John Doyle CEO of Marsh
July 7, 2017 by Canadian UnderwriterGlobal professional services firm Marsh & McLennan Companies, Inc. (MMC) has announced the appointment of John Doyle as chief executive officer of Marsh, effective immediately. Doyle will report to MMC president and CEO Dan Glaser and continue to serve on…
Data analysis may start to focus more on modelling the process than the data itself, CIFF speakers suggest
May 29, 2017 Jason Contant, Online EditorData analysis may start to focus more on modelling the process than the data itself, speakers suggested last week at the Canadian Insurance Financial Forum (CIFF). Although modelling began decades ago to model the process of financial catastrophes, there is…
Revenues for Marsh’s U.S./Canada division up to US$775 million in Q1 2017, from US$701 million in Q1 2016
May 1, 2017 by Canadian UnderwriterMarsh has reported revenues of US$775 million for its U.S./Canada division for the first quarter of 2017 ending March 31, up from US$701 million in the first quarter of 2016. Consolidated revenue for the quarter was US$3.5 billion, up 5%…
Wildfire has ‘very very different pattern’ of impacted areas: CatIQ Catastrophe Conference speaker
February 8, 2017 Greg Meckbach, Associate EditorWhen determining accumulation of risk, wildfire presents an “additional complexity” for insurers and reinsurers, a speaker suggested at a recent conference. “Wildfire is a really complex peril,” said Manuel Chirouze, managing director, natural hazards and geoscience for the Americas at…