Marsh and Guy Carpenter, both wholly owned subsidiaries of Marsh & McLennan Cos. (MMC), announced that, subject to regulatory approvals, they would combine their Latin American facultative reinsurance operations with those of Jardine Lloyd Thompson Group (JLT), which was acquired by MMC on April 1, 2019.
The combined business will be known as Carpenter Marsh Fac Re.
Carpenter Marsh Fac Re will be led by Andrew Perry, currently Mercer Marsh Benefits (MMB) leader, as CEO. He will be based in Miami and report to Dean Klisura, president of Global Placement at Marsh, and Ricardo Brockmann, CEO of Marsh Latin America and Caribbean (LAC).
Before taking up his position at MMB in 2014, Perry, who joined Marsh in 1988, was client and business development leader for Marsh’s LAC region. Between 2004 and 2010 he served as leader of Marsh’s LAC Risk Management segment, based in Buenos Aires.
Juan Carlos Gomez, currently leader of Guy Carpenter’s office in Colombia, will serve as deputy CEO. He will remain based in Bogota and report to Perry.
“By combining the facultative reinsurance offerings of Marsh and Guy Carpenter with those from JLT we will be able to offer insurers and insurance buyers a more efficient way to access global reinsurance markets,” said James Nash, CEO, International, Guy Carpenter.
Facultative reinsurance forms an integral part of many insurance companies’ reinsurance arrangements and is frequently used to manage their exposure to the accumulation of risk in certain areas, explained MMC in a statement. In addition, legal regulations governing insurance placements in many Latin American countries means that facultative reinsurance is often used for many complex or higher-value risks as a way of accessing non-local insurance capacity.
Source: Marsh and Guy Carpenter
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