Guy Carpenter and Marsh, both businesses of Marsh McLennan (MMC), have announced that they will combine their South Africa facultative reinsurance operations into a single business from January next year.
The new unit will operate under the Guy Carpenter brand as it’s part of the company’s strategy to expand its presence across the region.
The combined operation will provide clients with improved access to the company’s regional and global facultative capabilities, including its market-leading analytics, enhancing its ability to deliver structured and cost-effective risk-transfer solutions.
The unit will be led by Don Wright, who has been appointed Head of Facultative Broking for the region. Based in Johannesburg, he will report to Jane March, Guy Carpenter’s CEO for South Africa.
Wright has more than 35 years of re/insurance market experience, including 14 years in the reinsurance broking sector.
Most recently, he served as Head of Reinsurance for Marsh in South Africa, and prior to this was part of JLT Re.
March commented: “Today’s announcement further strengthens our position as a leading provider of facultative solutions to the reinsurance market in South Africa.
“By bringing together the Guy Carpenter and Marsh teams under Don’s leadership, we will be able to offer carriers a more efficient and effective way to access the full breadth of our facultative capabilities.”