Guy Carpenter to merge South Africa fac reinsurance business with Marsh
Marsh McLennan’s (MMC) reinsurance intermediary Guy Carpenter and insurance broker Marsh are to merge their South African facultative reinsurance operations into a single business, in a move to expand Guy Carpenter’s presence across the region.
The new unit will operate under the Guy Carpenter brand from January 1, 2022, to be led by Don Wright, who has been appointed head of facultative broking for the region.
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 previously was part of JLT Re. Based in Johannesburg, he will report to Jane March, Guy Carpenter’s CEO for South Africa.
The combined operation aims to provide clients with improved access to the company’s regional and global facultative capabilities, including its analytics, enhancing its ability to deliver structured and cost-effective risk-transfer solutions.
“Today’s announcement further strengthens our position as a leading provider of facultative solutions to the reinsurance market in South Africa,” said March.
“By bringing together the Guy Carpenter and Marsh teams under Don’s leadership, we will be able to offer carriers a more efficient and effective way to access the full breadth of our facultative capabilities.”
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