Canadian Underwriter

Guy Carpenter

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Terrorism insurance calls for ‘high level of vigilance:’ Guy Carpenter

January 5, 2017 by Canadian Underwriter

Reinsurers are “striving to close gaps” in policies covering terrorism, while the decline in reinsurance pricing has moderated, Guy Carpenter & Company LLC suggested in a release Thursday. “While there are many areas of focus for product expansion and evolution

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Risk and insurance revenue up 3% at Marsh & McLennan

October 26, 2016 by Canadian Underwriter

Marsh & McLennan Companies Inc. announced Tuesday its risk and insurance revenue rose 3%, year over year, for the third quarter. New York City-based Marsh & McLennan owns brokerage Marsh Inc. and Guy Carpenter & Company LLC, among other subsidiaries.

News CatastrophesInsuranceMarkets / CoveragesReinsurance

FEMA announces first-ever reinsurance agreement under NFIP

September 22, 2016 by Canadian Underwriter

The Federal Emergency Management Agency (FEMA) announced on Thursday its first-ever reinsurance agreement under the National Flood Insurance Program (NFIP). The agreement will allow the NFIP to share flood risk with private reinsurance companies to help defray the cost of

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Industry must more effectively harness potential of satellite, drone and aerial technologies: Guy Carpenter’s head of cat planning & response

September 12, 2016 by Canadian Underwriter

Advances in the development of “visual intelligence” based on multiple data sources, including satellite imagery and drone footage, have the potential to significantly enhance claims and catastrophe response processes and underwriting decision making when companies harness that potential effectively, according

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Reinsurers ‘more willing’ to decline participation where demands from cedents are too great: Guy Carpenter

September 9, 2016 by Canadian Underwriter

As investment returns remain low and with recent drops in renewal pricing, reinsurance carriers are resisting “aggressive buying tactics” on the part of cedents, Guy Carpenter & Company LLC suggested in an article published Friday. “From a buying perspective, while

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Flash estimate for insured losses from Hurricane Hermine US$500 million: KCC

September 6, 2016 by Canadian Underwriter

The current flash estimate of insured losses associated with Hurricane Hermine – likely to produce in excess of 50,000 claims – approaches US$500 million, with total economic damages almost US$1 billion, Karen Clark & Company (KCC) reported Friday. “The storm

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Revenue for Marsh’s U.S./Canada division up US$44 million to US$804 million in Q2 2016

July 29, 2016 by Canadian Underwriter

Marsh & McLennan Companies, Inc. (MMC) has reported that revenue for the United States/Canada division of Marsh was up to US$804 million for the second quarter of 2016 ending June 30, from US$760 in the same quarter in 2015. For

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Guy Carpenter forms strategic alliance with Symantec to develop cyber aggregation model

May 18, 2016 by Canadian Underwriter

Guy Carpenter & Company announced on Tuesday the formation of a strategic alliance with global cybersecurity company Symantec Corporation to create a cyber aggregation model. The model will include a comprehensive catalogue of cyber scenarios from which insurers can derive

News CatastrophesInsuranceMergers and Aqcuisitions

Insured losses from Japan earthquakes in April could be between US$1.7 billion and US$2.9 billion

May 12, 2016 by Canadian Underwriter

Insured losses from the two earthquakes that struck Japan in April could be as high as US$1.7 billion to US$2.9 billion, with economic losses of US$5.5 billion to US$7.5 billion, industry experts suggested on Wednesday. Guy Carpenter & Company, a

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Revenue for U.S./Canada Marsh division of Marsh & McLennan Companies up to US$701 million in Q1 2016 from US$638 million in Q1 2015

April 28, 2016 by Canadian Underwriter

Revenue for the United States/Canada Marsh division of Marsh & McLennan Companies, Inc. (MMC), was up to US$701 million for the first quarter of 2016 ending March 31, from US$638 million in the first quarter of 2015, the global professional