Vast Majority of Insured Losses Occurred Outside of the United States;
La Ni�a Again Could Influence Worldwide Natural Catastrophes in 2012
New York, December 29, 2011 – Total insured losses more than doubled in 2011 from the previous year and were second only to those recorded in 2005, according to a new series released today by Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and a member of Marsh & McLennan Companies (NYSE: MMC). The re/insurance industry paid out more than USD100 billion to cover insured losses around the world in 2011.
At least 12 natural catastrophes during the past year caused more than USD1 billion each in insured losses, the report found. Most of the loss activity in 2011 occurred outside of the United States, with the Asia Pacific region accounting for over two-thirds of total insured losses.
For a detailed review of the major loss-incurring events of 2011 and an outlook for 2012, please download 2011 Catastrophe Update: Historic Global Losses at www.GCCapitalIdeas.com.
David Flandro, Global Head of Business Intelligence, Guy Carpenter & Company
�The historical losses of 2011 revealed the spread of catastrophe exposures around the world � including in areas which have not historically been considered peak zones. Most large insured losses in 2011 happened outside of the United States, reinforcing the theme of the internationalization of losses and the importance of understanding exposures. Predictions that the La Ni�a event is likely to persist into 2012 and could again influence worldwide natural hazards next year add to the uncertainty.�
About Guy Carpenter
Guy Carpenter & Company, LLC is the world’s leading risk and reinsurance specialist and a member of Marsh & McLennan Companies. With over 50 offices worldwide, Guy Carpenter creates and executes reinsurance solutions and delivers capital market solutions* for clients across the globe. The firm’s full breadth of services includes line of business expertise in Agriculture; Aviation; Casualty Clash; Construction and Engineering; Excess and Umbrella; Life, Accident and Health; Marine and Energy; Medical Professional Liability; Political Risk and Trade Credit; Professional Liability; Property; Retrocessional Reinsurance; Surety; Terrorism and Workers Compensation. GCFac� is Guy Carpenter’s dedicated global facultative reinsurance unit that provides placement strategies, timely market access and centralized management of facultative reinsurance solutions. In addition, GC Analytics™ utilizes industry-leading quantitative skills and modeling tools that optimize the reinsurance decision-making process and help make the firm’s clients more successful. Guy Carpenter’s website address is www.guycarp.com.
Guy Carpenter’s intellectual capital website, www.GCCapitalIdeas.com, leverages blog technology, including Real Simple Syndication (RSS) feeds and searchable category tags, to deliver Guy Carpenter’s latest research as soon as it is posted. In addition, articles can be delivered directly to BlackBerrys and other handheld devices.