Guy Carpenter & Co. LLC on Wednesday announced that it has made a major strategic investment in a new venture designed to help develop business in Greece, Cyprus and adjacent countries.

Guy Carpenter has acquired a significant interest in the new company, Carpenter Turner, which combines the regional knowledge and expertise of the Turner family with Guy Carpenter’s extensive analytical resources and access to international markets.

Effective Sept. 9, Carpenter Turner will take over all renewing business from Guy Carpenter’s office in Athens.

“The Turner family has an exceptional insight into and relationship with the Greek and Cypriot insurance communities, and we firmly believe that our investment in their enterprise will prove extremely beneficial for our clients,” says Nick Frankland, CEO of Guy Carpenter’s EMEA operations, in a statement.

Alex Turner, managing director of Carpenter Turner, adds: “We are delighted that a firm of the caliber of Guy Carpenter has chosen to make such a significant investment in our new company, Carpenter Turner. The firm’s excellent standing in the international arena coupled with their market-leading analytical expertise will prove invaluable to the overall success of our venture.”

Source: Guy Carpenter