The combination of Guy Carpenter (GC) and JLT Re provides the brokerage with an opportunity to offer the best of service to clients around the world, according to GC President and Chief Executive Officer (CEO), Peter Hearn and Ross Howard, Vice Chairman of GC.
Marsh & McLennan Companies, Inc. (MMC) today announced the completed, $5.6 billion takeover of Jardine Lloyd Thompson Group plc (JLT), a deal that brings together Guy Carpenter and JLT Re, the pairs reinsurance arms, under the Guy Carpenter name.
In a message to partners, GC’s Howard explained that as reinsurance is increasingly at the forefront of its clients needs, the merger of GC and JLT Re, “brings us such an opportunity to provide the best of service.”
“Best of service is analytics, best of service is how we serve our clients, but it’s also about our people. People who are your advocates who will look at your business and provide you the best answers for your business,” continued Howard.
Overall, the combination of Marsh and JLT provides advice and solutions for more than $100 billion of annual property/casualty insurance and reinsurance premiums placed globally.
“I think what we want to do is build a business that addresses the changing nature of risk, whether that be climate change, cyber, terror, autonomous cars, to be able to have a response to each and every one of those risks that our clients face today,” said Hearn.
He added that unpredictability makes the role the broker serves even more valuable in trying to understand where are the risks of the future, how it impacts clients and their growth ambitions, as well as their profitability and volatility.
Howard, expanded on this point: “The next issue and problem around the corner is something that’s not been thought of, not been looked at. The wildfires are a great example of that, while they’ve had them in the past they’ve never ever been the ferocity, duration and the problem that they’ve been. So the next problem, the next issue is what we have to look at and we have to find solutions to.”