Reinsurance broker Guy Carpenter and insurance broker Marsh, both businesses of Marsh McLennan, said they are combining their South Africa facultative reinsurance operations into a single business, effective January 1, 2022. The new unit will operate under the Guy Carpenter brand.
According to the announcement, the move is part of Guy Carpenter’s strategy to expand its presence across the region.
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 said the combined facultative operation will be able to “offer carriers a more efficient and effective way to access the full breadth of our facultative capabilities.”
Guy Carpenter places more than USD $1.6 billion in facultative reinsurance globally.
Source: Guy Carpenter ad Marsh