Guy Carpenter & Co., the global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Cos., announced a multi-year, global strategic partnership with Reynolds Porter Chamberlain Consulting (RPCC) to license and develop proprietary applications to run within …
This post is part of a series sponsored by CoreLogic. 2017 was a game-changing year for the insurance industry. Between the catastrophic deluge of water dumped in Texas from Hurricane Harvey and the unprecedented underinsurance rates of families whose homes …
The Federal Emergency Management Agency (FEMA) has secured a reinsurance placement for the National Flood Insurance Program (NFIP) that for the first time is directly backed by capital markets investors. FEMA has entered into a three-year reinsurance agreement, effective August …
Not-for-profit catastrophe modeling platform “Oasis Loss Modelling Framework” announced that all components of its catastrophe modeling software are now open source and downloadable from GitHub, free of charge. This step means that Oasis is making sophisticated catastrophe modeling more accessible …
Reinsurance intermediary Guy Carpenter & Co. said it has hired Shiv Kumar as president and global leader of GC Securities, Capital Markets. Kumar was previously global head of Insurance Structured Finance at Goldman, Sachs & Co. GC Securities helps clients …
Reinsurance broker Guy Carpenter & Co. announced the appointment of Richard Carver as managing director and senior broker in the firm’s UK non-marine division. Carver has 30 years of experience in the reinsurance sector, spanning both the underwriting and broking …
Pool Re announced it has renewed its retro program and extended the cover to include material damage and direct business interruption (BI) caused by acts of terrorism “using remote digital interference.” The renewed cover, brokered by Guy Carpenter, has been …
Guy Carpenter Chairman Britt Newhouse is retiring at the end of 2017, a company spokesperson has confirmed. Newhouse has been chairman of the reinsurance broker/strategic advisory firm as part of leadership changes at the unit in 2008. Newhouse joined Guy …
Global insurance and risk services firm Marsh & McLennan Companies reported financial results for the third quarter that include $3.3 billion in consolidated revenue, an increase of seven percent over third quarter last year. MMC also reported net income of …
While the U.S. property/casualty insurance industry is well capitalized and market sentiment is mostly positive, it still faces economic and market-based headwinds that will challenge its profitable growth going forward. In the 2017 edition of the annual report, Plotting a …
