Guy Carpenter has announced the launch of a new unit, GC Asia Pacific Retro, offering retrocession services in the Asia Pacific region.
The unit will link with Guy Carpenter’s marine and aviation Global Specialties units in the region and provide retrocession property solutions, capital raising, and product and capacity development.
Kevin Fisher, CEO, Global Specialties, commented on the launch; “GC Asia Pacific Retro provides us with the perfect platform to deliver our specialist retrocession expertise direct to our clients in the region, while also acting as a conduit to the full range of Guy Carpenter’s extensive services.
“By establishing a dedicated team ‘on-site’, we are able to precisely translate their risk exposures into the most effective and comprehensive solutions possible, while ensuring that these fit seamlessly alongside the other traditional reinsurance products that we provide.”
Simon Hughes has been announced as the unit’s Managing Director, to be based in London and Singapore-based Ben Dunnett will act as Senior Vice President.
Hughes boasts over 21 years of experience in the Guy Carpenter Asia Pacific division, and Dunnett has 10 years’ experience in working for Guy Carpenter’s Non-Marine Specialty, both will report to James Boyce, Head of Non-Marine Specialty and President of the International Division, James Nash.
Nash said; “We see this as an opportune time to be opening the doors of our new unit. The remit of the team is expansive and spans retrocession solutions, capital raising and product development to meet the broad-spectrum needs of our clients.
“Further, our aim is to play a central role in facilitating the growth of the retrocession market in the region, while also expanding the potential afforded by ILS capacity.”
In addition to taking on leadership of the GC Asia Pacific Retro as Managing Director, Hughes will continue his current role as Guy Carpenter’s senior broker for Australasian business.