Guy Carpenter & Co. LLC, a global risk and reinsurance intermediary division of N.Y.-headquartered Marsh & McLennan Companies, announced last week its acquisition of Smith Group, a disability reinsurance risk manager and consultant in South Portland, Maine.
Guy Carpenter said operations for Smith Group will continue to be based in South Portland, Maine.
“As our Life, Accident and Health insurance clients continue to seek ways to grow profitably, the addition of Smith’s comprehensive offering of reinsurance products and services encompassing all aspects of long-term disability insurance business enhance our ability to deliver highly differentiated solutions to meet these clients’ unique needs,” commented Andrew Marcell, CEO of Guy Carpenter’s U.S. operations.
Marsh & McLennan Companies provides a wide range of insurance-related brokerage, consulting, and risk management services. Its business units include Marsh, the insurance broker and risk advisor; Guy Carpenter, a risk and reinsurance specialist; Mercer, human resources and financial services provider; and Oliver Wyman, a management consultancy.
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