Guy Carpenter & Co., LLC, a global risk and reinsurance specialist, has agreed to buy London-based reinsurance broker Rattner Mackenzie Limited (RML) from HCC Insurance Holdings, Inc.
HCC is a specialty insurance group headquartered in Houston, Texas, with offices in the United States, Bermuda, Ireland, Spain and the United Kingdom. RML is a specialty reinsurance broker. RML places HCC’s reinsurance programs in the London market as well as servicing a number of third-party clients.
Guy Carpenter said the deal is in keeping with its strategy to supplement organic growth with targeted acquisitions. Following the transaction, Guy Carpenter will provide reinsurance intermediary services to HCC.
“This transaction will enable HCC to focus on its core businesses while enabling RML to develop its business proposition in conjunction with Guy Carpenter, which we believe to be an ideal home for RML,” said John N. Molbeck Jr., president and CEO of HCC Insurance Holdings, Inc.
An October closing is expected, following receipt of regulatory approvals and satisfaction of other closing conditions. Terms of the transaction have not been disclosed.
Source: Guy Carpenter
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