Week’s Top Stories: January 30 – February 5, 2021

Reinsurance Industry Capital at Year-End 2020: Traditional dedicated reinsurance capital for year-end 2020 was estimated at USD 397 billion by Guy Carpenter and A.M. Best, a marginal increase on year-end 2019. Favorable valuations of asset levels and capital initiatives saw capital levels recover from the decline witnessed at mid-year 2020.

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Marsh & McLennan and the World Economic Forum Present the Global Risks Report 2021: The 16th edition of the Global Risks Report, published by the World Economic Forum with support from Marsh & McLennan, highlights the disruptive implications of major risks, including the COVID-19 pandemic, that may reshape our world in 2021 and over the next decade.

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Rate Movements Moderated by Availability of Capacity as Negotiations Center on Pricing and Terms at January 1, 2021 Renewals: Price increases at the January 1, 2021 reinsurance renewals were moderated compared to initial expectations by abundant capital levels and an increased willingness on the part of reinsurers to deploy capacity in several sectors.

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Community-Based Catastrophe Insurance: A Model for Closing the Disaster Protection Gap: A new report from Guy Carpenter, Marsh & McLennan Advantage, and the Wharton Risk Management and Decision Processes Center, Community-Based Catastrophe Insurance: A Model for Closing the Disaster Protection Gap, sets out an innovative model to deliver insurance and help communities close the disaster protection gap.

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Rate Change Dynamics Heading into 2021: Lara Mowery, Global Head of Distribution at Guy Carpenter, highlights how renewal discussions are focusing on the offsetting trends of underlying rate changes on casualty business and loss activity that has occurred in the past.

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And, you may have missed…

Key Cyber Risk Concerns and Claims Trends: The similarities between a pandemic and a cyber attack should have all insurers reconsidering their stress scenarios. Key cyber risk concerns can be divided broadly into three categories, those related to silent cyber (non-cyber insurance policies that are liable for a cyber loss), claims trends and the effects of COVID-19.

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