Risk, Re-/Insurance and Future Thinking
From the monthly archives:
I love this stuff. I’ve always been fascinated by maps and cartography and there’s a great report today on WebWire about a conference at Lloyds’ hosted by the Ordnance Survey and dealing with linking risk management to geo-mapping/-tagging: Underwriters from some of Britain’s leading insurance companies attended the Ordnance Survey event to see how geographic [...]
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Lars Toomre has had a number of posts of late about the misfortunes of Amaranth Advisors, a multi-billion dollar mult-strategy hedge fund. Per Toomre, per WSJ (subscription only): One of the mistakes that led to Amaranth Advisors’ multi-billion dollar losses on natural-gas investments is a common one in fast-shifting energy markets: confusing paper [...]
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From The Economist comes this amusingly Moleworthian “crib to reel thorts” on airline announcements: “GOOD morning, ladies and gentlemen. We are delighted to welcome you aboard Veritas Airways, the airline that tells it like it is. Please ensure that your seat belt is fastened, your seat back is upright and your tray-table is stowed. [...]
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At Monte Carlo, Dennis Mahoney, of AIG UK, lambasts Lloyd’s for failing to embrace new technologies: One of the thing I always do with clients in London is I take them to Lloyd’s, and they are always impressed by how modern it is, all that glass and metal. And then they see all the [...]
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In the next exciting installment of Stupid Lawyers, dear Reader, we bring you the most excellent instance of some attorneys being given a final chance to get their pleaded case right. What did they do? Re-consider the evidence? Interview the witnesses? More legal research? No. They changed the typeface. Wow, I couldn’t see [...]
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And now Hiscox have moved their ops there, citing an excess of red tape and a 30% rate of corporation tax here as against a more relaxed regime there and, what was it, oh yes - 0% corp tax. Not everyone is happy: Richard Murphy, of Tax Research, said the plans outlined by the insurer [...]
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As Guy Carpenter announce that cat-exposed retro rates in the US are up by 76% and by 129% in Mexico, it’s not surprising that Hannover Re say that demand for finite reinsurance products is on the rise again. A spokeswoman said We can only underline that demand is now higher than in years [...]
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Interesting chart showing the decline in hurricanes of all sorts, both weak and strong, hitting the US mainland over the last 150 years or so. Especially after Katrina, Rita and Wilma. Hard to know what the real truth is, when both the “it’s real” and “it’s overblown” camps are so strident. I mean, the [...]
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Canadian Underwriter reports today that financial strength in the global RI market has fallen over the past 5 years, per S&P. Factors include: withdrawal by broad-based companies from the RI arena earnings underperformance volatility of the market It seems that industry risk is set to remain [...]
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According to a report by the IMF to finance ministers at next week’s G7 meeting in Singapore the world economy is set to grow at 5.1% this year but the risk of a severe global slowdown in 2007 is greater than at any time since 9/11. The IMF say that there is a one-in-six chance of [...]
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