The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has announced the appointment of Guy Carpenter & Company, LLC as the new Placing Broker for the Facility, beginning immediately in “preparation for the renewal of CCRIF’s reinsurance program on 1 June.”
The facility also extended its “sincere gratitude to the team from Aon Benfield for the exemplary service they provided during their tenure as CCRIF Placing Broker.”
The selection ends the search for a placing broker that began in Nov. 2010, when the CCRIF issued a “call for expressions of interest” for eligible firms interested in providing the services of Placing Broker.
The bulletin noted that the Placing Broker “works closely with CCRIF’s Facility Supervisor in the execution and subsequent management of the risk transfer program for CCRIF on an annual basis.
“Services also include provision of expert advice to the Facility Supervisor and Board of Directors in the development of the risk transfer strategy and provision of general intelligence and other relevant information on individual risk transfer markets (both traditional and capital markets).
“Guy Carpenter thus becomes the newest member of the CCRIF Team which provides services to the Facility. Other members of the Team are: Caribbean Risk Managers Ltd – Facility Supervisor; Sagicor Insurance Managers Ltd – Insurance Manager; London & Capital Ltd and EFG Bank, Cayman Branch – Asset Managers; and Sustainability Managers – Corporate Communications Manager.
Source: CCRIF
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