Marsh McLennan’s businesses Guy Carpenter and Marsh have announced plans to merge their South Africa facultative reinsurance operations.
Post-merger, which will be effective from 1 January 2022, the new unit will operate under the Guy Carpenter brand.
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By GlobalDataThe merger is part of Guy Carpenter’s strategy to bolster its presence in the region.
It is aimed at providing clients with improved access to the firm’s regional and global facultative capabilities and analytics.
Don Wright will lead the combined entity as head of facultative broking for the region. Wright, who brings 35 years of market experience, will report to Guy Carpenter South Africa CEO Jane March.
Most recently, Wright served as head of reinsurance for Marsh in South Africa.
Jane March said: “Today’s announcement further strengthens our position as a leading provider of facultative solutions to the reinsurance market in South Africa.
“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.”
Last month, Guy Carpenter unveiled a Wildfire Risk score to help customers manage their exposure to the risk of wildfire across Europe.
Before that, Marsh McLennan launched a Cyber Risk Analytics Centre to tackle cyber risks by bringing together cyber risk data, analytics, and mitigation expertise.
Marsh, Guy Carpenter, Mercer, and Oliver Wyman are also the participants of the centre.
