Reinsurance News

Guy Carpenter news

News on Guy Carpenter, one of the world’s leading reinsurance brokers and part of the Marsh & McLennan group of companies.

News on Guy Carpenter’s activities in reinsurance and insurance-linked securities markets, as a broker, originator, adviser and structurer of reinsurance risk transfer transactions.

Guy Carpenter puts insured Beirut port losses at $250mn

10th August 2020

Reinsurance broker Guy Carpenter has estimated that the insured bill for combined hull, cargo and port facility losses from the recent Beirut explosion should be within $250 million. The estimate comes after the Governor of Beirut said that the economic impacts of the blast would be in the region of ... Read the full article

Peter Askew named President & CEO of Guy Carpenter in Canada

5th August 2020

Reinsurance broker Guy Carpenter has named Peter Askew as President and Chief Executive Officer (CEO) of its Canadian business, effective immediately. Askew succeeds Donald Callahan, who has stepped down from the role in Canada after two decades, and will continue to support Askew. Callahan will remain with the reinsurance broker in ... Read the full article

Guy Carpenter promotes Mayer, Mowery & Crichton to Exec Committee

3rd August 2020

Reinsurance broker Guy Carpenter has named three new members of its Executive Committee, as Neil Mayer, Lara Mowery and John Crichton are all added to the senior leadership group. The company said the move is aligned with its "ongoing commitment to deliver differentiated value and experience to its clients." The Executive Committee ... Read the full article

Guy Carpenter results offset revenue dip for MMC

30th July 2020

Guy Carpenter reported a 10% increase in its revenue during the second quarter of 2020, helping to offset an overall dip in revenue for its parent company, Marsh & McLennan Companies, Inc. (MMC). The reinsurance broking arm of MMC posted revenue of $433 million for Q2 2020, compared with $392 million ... Read the full article

Guy Carpenter adds Andrea Piatti to GRS unit as Managing Director

28th July 2020

Guy Carpenter, the reinsurance arm of global brokerage Marsh, has appointed Andrea Piatti as a Managing Director within its Global Risk Solutions unit. Piatti will be based in Zurich and work closely with Guy Carpenter’s broking and analytics teams across the Europe and MENA region. He will report to Frank Achtert, Head of Strategic ... Read the full article

Guy Carpenter adds three to restructured Fac division

20th July 2020

Guy Carpenter, the reinsurance arm of global brokerage Marsh, has added three senior appointments within its GC Fac division as part of a wider realignment process. The company hopes to ensure the delivery of client-centric solutions by structuring product teams around geographic regions. Stephen Wilkins has been appointed Head of UK Property, while Paul Hargis ... Read the full article

Guy Carpenter launches new Fac unit; appoints WTW’s Upton as lead

16th July 2020

Guy Carpenter, the reinsurance arm of global brokerage Marsh, has announced the launch of Hybrid Solutions UK, a new facultative operation that will be led by Laurence Upton. The new Hybrid Solutions UK team becomes part of GC Fac, and will focus on developing semi-automatic facultative solutions that sit between traditional ... Read the full article

Henry Lawrence named as a Managing Director of GC Fac UK

13th July 2020

Guy Carpenter, the global reinsurance arm of brokerage Marsh, has announced the appointment of Henry Lawrence as a Managing Director of GC Fac UK, effective August 17th. In this newly created role, Lawrence will be responsible for the U.S. region at GC Fac UK. The reinsurance broker explains that this new ... Read the full article

COVID-19 set to rank among sector’s most expensive events: Guy Carpenter

29th June 2020

Although considerable uncertainty remains over its ultimate cost, Guy Carpenter believes COVID-19 is set to rank among the sector’s most expensive events. The pandemic has the potential to bring unknown loss impacts and is also likely to be one of the slowest developing catastrophes that carriers have ever encountered, likely creating ... Read the full article

Cedent needs were met at June 1 renewals despite challenges, says GC

25th June 2020

Despite the challenges, cedent needs were met at the June 1st reinsurance renewals as the market continued to function well, a trend analysts at Guy Carpenter (GC) expect to persist through the July 1st renewals and into next year. In a recent industry note, Guy Carpenter, the reinsurance broking arm of ... Read the full article

Reinsurers refining Florida portfolios on new view of risk: GC

22nd June 2020

Analysts at Guy Carpenter have noted that there was significantly less deployable capital at the Florida renewals this year, as reinsurers were already refining their portfolios for the state based on a new “view of risk.” The broker noted that the June 1 renewal was the “first genuine test” of the ... Read the full article

The real story of US flood is the lack of insurance take-up: Clark, Guy Carpenter

4th June 2020

Too often, the story around U.S. flood risk focuses on FEMA and what the entity either isn’t doing right or could be doing better, when the real story is the dangerously low levels of flood insurance penetration, according to Jonathan Clark of Guy Carpenter. Clark, who leads the Public Sector division ... Read the full article

GC bolsters terrorism modelling capabilities with Synthetik partnership

2nd June 2020

Guy Carpenter, the reinsurance specialist arm of Marsh & McLennan Companies, has entered into an exclusive multi-year agreement with Synthetik to help enhance its proprietary terrorism modeling product, Sunstone. Synthetik is an applied technology and engineering company that specialises in explosive blast and weapons effects modeling. Synthetik has collaborated with Guy Carpenter ... Read the full article

Guy Carpenter launches Philippines Flood Model

14th May 2020

Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, has announced the launch of its new probabilistic flood model for the Philippines. The Philippines Flood Model provides countrywide coverage and enables insurers to assess exposure for one of the most common natural hazards in the region. Guy Carpenter’s model is ... Read the full article

Marsh & McLennan grows Q1 income, helped by Guy Carpenter

30th April 2020

Marsh & McLennan Companies, Inc. (MMC) has reported a 5% increase in net income during the first quarter of 2020, despite pressure from the coronavirus (COVID-19) pandemic. Income stood at $754 million at the end of Q1, compared with $716 million for the same period last year. Consolidated revenue similarly increase ... Read the full article