celebrated its 30th anniversary in its April issue. To mark
the occasion, we published a series of articles looking back
on the past three decades in the insurance and reinsurance
Our coverage started with a bang, with an exclusive
article from industry legend Hank Greenberg, chairman and CEO
of CV Starr & Co, in which he gives his views on how the
industry has changed during Reactions' lifetime.
To help make sense of how the industry has changed during
the past three decades, the Reactions team compiled lists of
what we reckon are the 30 biggest events and 30 most
influential people during Reactions' lifetime. We have begun
our countdown, posting numbers 30-11 of these lists. Let us
know what you think of these lists, what you agree and
disagree with by leaving comments at the bottom of the
articles of by emailing the editor on email@example.com.
We also spoke to other respected veterans for the issue
including Jack Byrne, Brian Duperreault, Pat Ryan, Ted
Blanch, Jim Stanard, Don Kramer and Stephen Catlin to get
their perspective on how the market has changed, as well as
revealing the 30 biggest M&A deals in the past three
decades and the 30 best covers of Reactions.
In our regular features, we assessed how the Japan
earthquake will affect the global market, looked at the state
of the run-off market, ask how D&O insurers will be
affected by increased scrutiny of boards and reveal North
America's most popular life reinsurers.
SPECIAL 30TH ANNIVERSARY SECTION
View From The Top: Hank
Maurice "Hank" Greenberg, chairman and CEO of CV Starr &
Co, Inc and Starr International USA, Inc, collectively known as
Starr Companies, reflects on how the industry has changed in
the 30 years since Reactions was launched.
The 30 most influential people in the insurance and reinsurance
industry during the past three decades:
No. 1: Hank Greenberg
No. 2: Warren Buffett
No. 3: Pat Ryan
No. 4: Former Lloyd's chairman Sir David Rowland
No.5: Robert Clements
No.6: Jack Byrne
No.7: Claude Bébéar
No. 8: Brian Duperreault
No. 9: Eliot Spitzer
No. 10: Ajit Jain
Most influential people of past 30 years: 20-11
Most influential people of past 30 years: 30-21
The 30 biggest events in the insurance and reinsurance industry
during the past three decades:
No. 1: Asbestos and environmental claims
No. 2: September 11 2001
No. 3: Hurricane Andrew
No. 4: AIG nearly collapses
No.5: Hurricanes Katrina, Rita and Wilma
No.6: Under-reserving for 1997-2001 years
No. 7: Reconstruction and Renewal
No. 8: Spitzer sues Marsh
No. 9: Triple-A ratings disappear
No. 10: formation of Ace and XL
The biggest events of the past 30 years: 20-11
The biggest events of the past 30 years: 30-21
30 years in insurance: Learning the hard
The insurance and reinsurance business has changed out of all
recognition in the past 30 years. Reactions hears candid
accounts from the industry captains who lived through the best
- and worst - of times, including Hank Greenberg, Brian
Duperreault, Jack Byrne, Don Kramer, Bill Berkley and Stephen
The rise of the big three of insurance
The insurance and reinsurance broking industry has undergone
rapid consolidation in the past 30 years. We ask some of the
executives involved in the wide scale consolidation, including
Pat Ryan, Grahame Chilton and Ted Blanch, to reflect on how the
industry has changed.
Whatever happened to the Lloyd's likely
Lloyd's is a much more
professional, but also less fun, market than when Reactions was
launched in 1981. Leaders including Hank Greenberg, Grahame
Chilton and Stephen Catlin reflect on how Lloyd's has
Insurance CEO: A different role than 30 years
The increasing demands of
external pressures such as investors, rating agencies and
regulators has made running an insurance company a much
different job than a few decades ago
30 years of insurance
Reactions' Garry Booth looks back on three decades of reporting
on the insurance and reinsurance industry.
Reactions through the ages: 30 best
Just like the industry on which we have reported for three
decades, Reactions looks very different now than it did in
years of evolution in reinsurance
Clive O'Connell casts his eye over the biggest
developments in reinsurance law during Reactions'
Japan turn global reinsurance
Reinsurers believe the devastating earthquake and tsunami in
Japan on March 11 will be enough to turn the market. Reactions
analyses how it affected April 1 renewals and the longer-term
effect on the global insurance and reinsurance market,
including detailing losses by firm.
- The age of Solvency II reason
The QIS5 study seems to have convinced the European Commission
and supervisors that maybe the insurance and reinsurance
industry should be given the slack over Solvency II that it has
been screaming for.
is dead, long live legacy
Dead insurers are getting harder to come by - so the run-off
market must make itself useful to live insurers.
D&O pressured by corporate
As the level of scrutiny of corporate executives, and the
volume of litigation against them increases, D&O insurers
in the US and elsewhere could wind up down and out.
- leading US life reinsurers
Reactions has teamed up exclusively with research group
Flaspöhler for the 2011 survey of the US life reinsurers.
Overall, US cedants are demanding innovative solutions from
reinsurers as their markets evolve.
wake-up call for Canada's
Canada could one day be hit by a magnitude nine earthquake. How
will its insurance and reinsurance industry cope?
Management: An increasingly small
Recent events in Japan and elsewhere are focusing risk
managers' minds on growing global threats such as supply chain
disruption and cyber risks. This means this week's Rims annual
conference may have a more of an international perspective than
COMMENT - FREE TO VIEW
spiral - a case of back to the
The market could be forgiven
for thinking the LMX spiral is now just a footnote in the
insurance and reinsurance industry's history. But some believe
the Deepwater Horizon catastrophe and climate change could be
the environmental double whammy that creates a new spiral, says
Reactions' contributing editor Garry Booth
Some things never change
To mark Reactions' 30th anniversary, Reactions' editor Michael
backs on what has changed - and what has not - in the global
reinsurance industry in the past three
It's RISKbitz's 30th
Anniversary! Yes, incredible as it may seem, RISKbitz has been
going for five decades.
From the movie
Taking you back in time
with classic insurance industry films from 1981. You rented
them on betamax cassettes remember?