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Guy Carpenter: failure to find silent cyber solutions might lead to downgrades
Insurance
Solutions to the issue of silent cyber are emerging amid the uncertainties, according to Guy Carpenter. But firms must take this issue seriously as regulators and rating agencies are now taking a close interest in the issue with the risk of downgrades very real for companies that do not get a handle on the challenge.   22 October 2019
Insurance
AM Best expects reinsurers’ earnings to see further erosion in 2019 following another year of major catastrophe losses, but the spate of catastrophe events may prolong the positive momentum that reinsurance pricing has experienced throughout 2019.   22 October 2019
Rates are increasing and clients need support in times of change: PartnerRe
Insurance
Rates increases are now “very wide scale” across the industry but not necessarily completely across the board—yet. What is clear is that in a time of extraordinary change and uncertainty, pricing must reach a level that is sustainable, and clients need the support of their reinsurers.   22 October 2019
Insurance
The chief underwriting officer of Everest Insurance, the specialty insurance operation of the Everest Re Group, is in Boston this week seeking deeper and more intimate relationships with its reinsurers.   22 October 2019
Insurance
Munich Re says developments in data analytics and artificial intelligence have enabled it to discover hidden loss drivers and respond accordingly, for example by introducing loss-prevention measures or adjusting pricing.   22 October 2019
Insurance
Cyber is one of Munich Re’s main strategic growth areas, according to Doris Hopke, member of the board of management at the reinsurer. She said that while the cyber segment part of the firm’s market “is still small” the number of incidents is increasing rapidly, and the financial impact of these incidents is becoming more severe.   22 October 2019
Insurance
Following its rating upgrade to ‘A’ last year, Sava Re is taking on more cat business and enjoying steady growth, as the firm’s Peter Skvarča and Edward Ottino tell Baden-Baden Today.   22 October 2019
Insurance
Reinsurers are better placed to cope with a possible departure of the UK from the EU with no agreed deal than UK primary insurers, according to Graham Coutts, EMEA head of reinsurance at Fitch Ratings.   22 October 2019
Insurance
S&P Global Ratings has maintained a stable outlook on the global reinsurance sector although the fundamental secular competitive trends haven’t abated. Karakuyu and Johannes Bender summarise S&P’s 2020 Reinsurance Sector Outlook.   22 October 2019
Insurance
AM Best has identified 30 insurers with substantial terrorism exposures and a heavy reliance on the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which is due to expire on December 31, 2020—something the rating agency has described as a significant concern.   21 October 2019

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