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Why reinsurers are watching how UK top court defined ‘occurrence’ in business interruption dispute

March 2, 2021 by Greg Meckbach

The 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.

Feature

Big Moves: New CEO at Guy Carpenter Canada

October 19, 2020 Canadian Underwriter Staff

Peter Askew succeeds Donald Callahan as president and CEO of the Canadian operations of Guy Carpenter, Marsh & McLennan’s reinsurance arm

News Earnings / RatingsInsuranceMarkets / Coverages

Underlying revenue up 3% at Marsh

October 31, 2017 by Canadian Underwriter

Marsh & 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

News InsuranceMarkets / CoveragesReinsurance

Economic and market headwinds may challenge profitable growth for U.S. insurers: Guy Carpenter

October 18, 2017 by Canadian Underwriter

While 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

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

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 Underwriter

Revenue 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

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Hannover Re, Guy Carpenter place $960 million worth of ILS transactions in three U.S. states

July 12, 2017 by Canadian Underwriter

Hannover 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

News CatastrophesInsuranceMarkets / CoveragesReinsurance

GC Securities completes “first ever indemnity triggered multi-Europe peril only” cat bond

July 10, 2017 by Canadian Underwriter

GC 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

News AppointmentsInsuranceMergers and AqcuisitionsProfessional Development

Marsh & McLennan Companies appoints John Doyle CEO of Marsh

July 7, 2017 by Canadian Underwriter

Global 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

News CatastrophesInsuranceMergers and AqcuisitionsReinsuranceTechnology

Data analysis may start to focus more on modelling the process than the data itself, CIFF speakers suggest

May 29, 2017 Jason Contant, Online Editor

Data 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

News Earnings / RatingsInsuranceMergers and Aqcuisitions

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 Underwriter

Marsh 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%

News CatastrophesReinsurance

Wildfire has ‘very very different pattern’ of impacted areas: CatIQ Catastrophe Conference speaker

February 8, 2017 Greg Meckbach, Associate Editor

When 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

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Marsh & McLennan Companies’ net income up 16% in Q4 2016 to US$436 million

February 3, 2017 by Canadian Underwriter

Marsh & McLennan Companies, Inc. (MMC) has reported net income attributable to company of US$436 million, up 16% from the prior-year quarter’s total of US$375 million. For the full year 2016, revenue was US$13.2 billion, a 2% increase. MMC, a