Guy Carpenter’s GCFac Launches Structured Risk Finance Unit

August 7, 2006

Guy Carpenter & Co., the global risk and reinsurance specialist of the Marsh & McLennan Companies, announced that its dedicated facultative reinsurance unit, GCFac, has launched a Risk Finance Team to originate, execute and manage structured risk programs. A number of experts have joined Guy Carpenter from JLT Risk Solutions, led by John Lobek.

“The London-based team has will report to Julian Samengo-Turner and Ron Whyte, co-leaders of GCFac,” said the bulletin. The new unit “complements and enhances Guy Carpenter’s existing Life and Annuity Specialty Practice.”

“The establishment of a dedicated, experienced structured risk finance team within GCFac represents an exciting new direction for us,” noted Samengo-Turner. “It enables us to deliver a wide range of innovative risk finance solutions that set GCFac apart from the competition.”

“We are delighted that these outstanding professionals have chosen Guy Carpenter as their home,” Whyte added, “and look forward to working closely with them to expand our capabilities and build on our worldwide client base.”

Guy Carpenter stressed that the “members of GCFac’s Risk Financing Team are highly regarded in the marketplace, with a 10-year track record of developing new solutions to clients’ complex problems. They have broad expertise in insurance and reinsurance broking, actuarial, modeling and financial analysis, as well as risk finance products, including advanced life insurance and reinsurance solutions, structured insurance and reinsurance, insurer/reinsurer exit strategies, residual value, structured credit and mortgage indemnity.”

Lobek commented: “Over the years our team has built a first-class reputation by developing groundbreaking insurance and reinsurance programs. With the full support and structure provided by Guy Carpenter, we expect that we will be even better equipped to address the evolving risk financing needs of major clients who require custom solutions.”

The bulletin gave the following details concerning GCFac’s NewRisk Financing Team:
— John Lobek – Mr. Lobek joined Lloyd Thompson from the Fenchurch Group in 1990. In 1995 he was appointed to form and lead a separate team to develop expertise in risk finance. Mr. Lobek has worked in the London market for more than 30 years and has extensive experience in major insurance and reinsurance transactions.
— Steve Forrest – With over 25 years of experience in structuring complex risk insurance programs for insurance companies and large multinational corporate clients, Mr. Forrest has provided advice to clients on all aspects of risk retention, including captives and non-conventional structures. He is a Fellow of the Chartered Insurance Institute.
— Ian Morrice – After training as an actuary for ten years and spending eight years in general insurance with ITT London & Edinburgh, Mr. Morrice spent two years as a syndicate analyst in the Lloyd’s market, before joining JLT’s Risk Finance Division in August 1999.
— Luke Wigley – A first class honors graduate in Mathematics from the University of Bristol, Mr. Wigley is a member of the Institute of Actuaries.

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