Guy Carpenter

Guy Carp has been rebuilding its marine and energy team after a major Willis Re team lift.

The unit will be led by Ed Hochberg, global risk solutions leader at Guy Carpenter.

Price has become a key differentiator in marine and energy.

Cedants pursued property renewals “aggressively” amid excess reinsurer capacity.

Insurance Insider reflects on major loss events of 2025 for the London market.

Guy Carpenter has sued Willis Re over a mass team lift in London and Bermuda in June.

This publication revealed the GC trio were set to join the start-up broker in June.

Plus, the latest people moves and all the top news of the week.

He and Fletcher stand accused of aiding Willis Re in an unlawful team lift.

The executive argued that injunctions following team lifts were “the industry standard”.

Court documents provide a window into the ambitious plans.

Plus, the latest people moves and all the top news of the week.

Guy Carpenter continues to pursue Willis Re and individuals in court.

Senior Willis Re recruit Jim Summers denied Kevin Fisher had a role at the start-up.

GC accused Willis, Lucy Clarke, Jim Summers and John Fletcher of unlawful recruitment.

A US landfall is not expected, but the storm could hit the Bahamas by Friday.

Willis Re kicked off its talent acquisition with mass hiring from Guy Carpenter over the summer.

The carrier recently expanded its reinsurance product suite in Bermuda.

EMEA CEO Laurent Rousseau said reinsurance must retain its relevance to investors.

The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.

The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.

The move comes as the broker rebuilds its Bermuda team.

Chris Eaton and Bill Moret gave their notice last week without specifying their destination.

The assistant treasurer is also due to review the Australian cyclone pool.

Nick Fallon is the latest in a string of retro-broker moves in the market.

The pair were offered contracts by Willis Re in July.

Earnings covers do not need to equal aggregate reinsurance deals, the broker said.

Rafael Diaz, Tiara Elward and Felipe Murcia will join BMS’s LatAm and Caribbean unit.

Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.

The broker is in hiring mode in specialty after numerous brokers departed for Willis Re.

The reinsurance veteran joined Aon nearly 20 years ago from Cooper Gay.

The executive has worked for JLT Re, Lockton Re, Willis Re and US Re.

Matthew Flynn joins from RenaissanceRe.

The broker has recruited from its rival as it looks to launch Willis Re 2.0.

Underscoring a more competitive market, the structure includes an escalating premium.

The executive has spent 13 years in the broker’s marine division.

In the US, the index fell 6.7% year on year.

The LA wildfires accounted for 59% of loss activity over Q1.

Willis’ continued reinsurance build-out has targeted London and Bermuda marine and retro specialists.

Miller recently strengthened its reinsurance proposition with the acquisition of AHJ.

The Bermuda-based team is led by John Fletcher. 

The executive will take the global role alongside his existing US responsibilities.

The headcount at the start-up now stands at around 40.

The facility provides follow capacity to US and international placements.

The market is also facing potential losses from injuries to NFL stars.

His leadership roles included overseeing the firm’s capital solutions group.

Competition for specialty reinsurance talent remains high.

The terrorism pool has shifted its programme from facultative to an XoL arrangement.

This year's modelled outputs have increased across all return periods.

Guy Carpenter said personal-lines exposure would account for 85% of the aggregate loss.

Alex Haines also previously held roles at WTW and Mapfre.

The broker said demand grew more slowly than reinsurer appetite.

The exit follows that of Guy Carpenter’s head of cyber centre of excellence for international, Siobhan O’Brien.

Siobhan O’Brien will exit her current role as head of cyber centre of excellence for international.

Randy Fuller, Head of North America Property at Guy Carpenter, discusses market stability, hurricane impacts, and the evolving role of claims professionals on October 1st, 2024.

The panelists discussed the ILS reset and the path to maintaining discipline in this sector.

Buyers are demanding more consistency on wordings and improved terms in renewal conversations.

“They want to grow their portfolios,” Guy Carpenter's CEO added.

The change comes as negotiations start to kick off for 2025 renewals.

Sources said Guy Carpenter has promoted Jennifer Paretchan to succeed Mowery.

The broker said less than 1% of companies globally with cyber insurance were impacted.

The rise is equal to 5%-10% of catastrophe capacity purchased, including cat bonds, depending on region.

The executive joins recent appointees Bronek Masojada and Emmanuel Clarke.

The broker warned that D&O and P&C policies could also be impacted by the outage.

The US property catastrophe broker is esteemed among peers.

The flattish outcome comes after a larger year-on-year hike in January.

She said potential hurricane activity was just one factor impacting the 2025 outlook.

Michael Sevi served as general counsel and chief compliance officer at Guy Carpenter.

Carter said technology is creating more of an imperative to diversify the future insurance workforce.

Excess capacity rebounded in June 2023 after hitting a decade-low just 12 months earlier.

The broker was part of a mass resignation from Guy Carpenter last year.

Richard Chu joins from PartnerRe, where he was head of financial risks for Asia Pacific.

Ben Savill replaces Jeff Saper, who is moving into a fac role.

The challenger broker is continuing to build out its presence on the island.

The executive joins the company as it looks to bolster its reinsurance capabilities.

Effective immediately, Wolfe will help drive growth strategies across the region. He will also lead Guy Carpenter’s US facultative business alongside Frank Guerriero, chairman of Guy Carpenter Facultative.

European rates on line increased by 7.60%, while in the US prices were up 5.25%.

Reinsurers are looking to grow in top-layer cat risk, resulting in “variable” outcomes on sign-downs.

Ollie Spells joins from Guy Carpenter, where he was a senior producer in the broker’s UK facultative property team.

A more consistent trading rhythm returned to the property market, with capacity deployment outside of frequency-exposed layers and more heavily loss-impacted segments bouncing back.

The brokers will work in the contingency team headed up by Ian Tomlin.

Speakers at the Guy Carpenter Baden-Baden symposium said the industry must improve its prospects as an investment opportunity.

The payment represents the largest ever made in a team lift case in the London market.

An internal missive, seen by Insurance Insider, also revealed Howden has agreed to a ‘set of demands to make amends’ in the wake of poaching settlement.

The two rival brokers have reached an out-of-court settlement over the poaching of 38 Guy Carpenter staff by Howden.

Our virtual roundtable polled industry leaders on critical questions for the reinsurance market. Today, we explore how the industry can collaborate on net-zero objectives after insurers exited the Net-Zero Insurance Alliance (NZIA) in droves.

Our virtual roundtable polled senior industry figures on the biggest questions facing the reinsurance industry. Today, we look ahead to the influences steering M&A market conditions.

Massimo Reina led an exodus of Guy Carpenter’s European staff to Howden Tiger in March, sparking legal action.

The reinsurance broker said the losses will fall on the higher end of industry loss ranges.

Guy Carpenter has succeeded in bringing Ronda into the suit, while Baotic and Nicosia will not be added.

The legal action follows the resignation of 38 of Guy Carpenter’s European staff to join Howden Tiger.

Jonathan Powell was previously head of Lloyd’s P&C at CNA, before joining the broker’s non-marine treaty team.

Reinsurers are less worried about their property books compared to last year, and eyeing development of casualty loss costs due to social and macroeconomic inflation.

Loss-free accounts were generally up 20%-50% at renewal, the reinsurance broker said.

The broker used three major cyber models to analyse the drivers of model variability, with revenue coming top as the most prominent driver of loss variability.

The broker is in hiring mode following a raid on European staff by Howden Tiger.

Three key reports have unearthed issues around capital and lower return period loss figures that may need to be addressed for the cyber market’s maturation, as a pivotal 1 July renewal date approaches.

The broker named Matthew McCabe as MD of cyber broking with a brief to tackle complex cyber issues.

The Big Three reinsurance brokers face a number of factors that could challenge their supremacy.

The structure envisages bringing in philanthropic capital to provide project funding to mitigate disaster risk as part of ILS deals.

The executive will report to president and CEO Dean Klisura.

Analysis showed a modelled loss range of between $15.6bn and $33.4bn for a 1:200-year global loss event.

Re Solution CEO Asaf Grinstein will become CEO of Guy Carpenter Israel.

Based in Stamford, Connecticut, the executive will oversee the carrier’s cyber fac and treaty operations reporting to NA CEO Brian Quinn.

Lisa Ljunggren has been appointed as head of analytics, Nordics, joining from SiriusPoint

The Marsh McLennan reinsurance unit alleges Massimo Reina was working on the move as early as late 2022.

GC’s Steve Housse and AJG’s James Elliott have resigned to join the challenger reinsurance broker.

The move marks a return to growth in fac for the broker after heavy talent attrition during Aon’s attempted takeover.

The situation has echoes of the previous legal clash between the brokers over the Bradley Maltese-led defection.

The move follows predecessor Massimo Reina’s defection along with 25+ colleagues to expansive rival Howden Tiger.

The Stockholm-based leader is the latest to depart amid multiple European defections.

Howden’s reinsurance unit has once again hired extensively from its larger rival in a move likely to spawn further litigation.

Jessica Turner will report to Martin Burke, director of underwriting performance.

The companies did not disclose whether any money exchange hands as part of the agreement.

The broker said this was not yet a settled market as work remained underway.

Inflation, heightened cat activity and years of poor reinsurance returns are fuelling demands for wholesale change in the European market.

Reinsurers and brokers alike have warned of a rocky 1.1 renewal process ahead as the industry grapples with multiple issues including inflation, climate change and geopolitical uncertainty.

Guy Carpenter is lining up for a challenging 1 January renewal, but hard conditions may ultimately prove a tailwind.

The motion comes a month after Carpenter sued the rival reinsurance broker over the "orchestrated” exit of 12 executives from its Dallas-based practice.

The broker said some reinsurers were planning for significant growth in property catastrophe as demand is expected to pick up pace.

Third-party reinsurance capital was predicted to hit $95bn in 2022.

The rate-on-line index rise is the steepest uplift in 16 years.

Its total risk transfer programme is sized at just over $9bn, down $400mn from year-end 2021.

After 26 years the firm’s chairman of UK and global specialties is stepping down.

Pool Re announced in November that Enoizi was departing after leading the state-backed reinsurer since 2013.

Property cat rate increases this January were double those of last year and the highest since 2014.

Head of Continental Europe facultative Nicola Fraccalvieri will lead the combined team.

The reinsurance broker’s report comes after KCC put a $3bn insured loss estimate on the 10 December disaster.

The unit will be led by Don Wright and will operate as a combined unit from January 1.

The executive has headed Marsh McLennan’s reinsurance broker since joining from Willis Re in 2015.

The agreement ends non-solicitation action against the team of brokers, led by Cameron Roe and chairman Tony Phillips.

The switch confirms a move first reported by Insurance Insider last month.

A judge found no evidence Mike Harden unlawfully solicited colleagues who “did not want to work for an Aon-controlled organisation”.

GC Access was launched last year to match carriers and MGAs and help them plan new ventures.

The reinsurance broker will work in tandem with wider Marsh McLennan companies to provide an integrated service.

Marsh’s current UK & Ireland specialty chief Paul Moody moves to role at Guy Carpenter.

James Johns will join the firm from Willis after some years at Talbot, while Josh O’Donoghue was at Aon.

While more storms than usual are expected for this season, Guy Carpenter said fewer are expected to strike land.

The former underwriter will take up the newly created role on 9 August.

Tropical storm activity is expected to be higher than normal in the Atlantic, Caribbean and West Pacific regions.

Panellists said that improved data around aggregations could attract new cyber reinsurance players.

Legal documents filed by GC allege the printing and subsequent destruction of confidential information by some of the defecting brokers.

The broker predicts a “very active” cyclone season over east Asia but forecasts a slightly smaller number than usual will make landfall.

The newcomer will report to Europe CEO Massimo Reina.

SVP Jeremy Waite will head the operation, while continuing to lead the firm’s property treaty broking team for Australia and New Zealand.

The next hearing in the case will be after 21 May.

He has spent nearly a decade at the broker and is due to start at his new role in October.

The intermediary’s 6% organic growth was aided by the economic recovery, price improvements and disruption in the broking market.

Marsh books 9% US organic growth while Guy Carpenter continues to expand at pace.

The reinsurance broker is looking to recover over £10mn and impose an injunction to ensure the return of confidential information.

Willis Re’s Michel den Boer has been named as managing director for treaty broking in the Benelux region.

Anthony Cordonnier will join the firm in the second half of 2021.

The new recruit has worked at Willis Re, Munich Re and Swiss Re during his career.

Fallout from the 2019 JLT Re integration intensifies after a group including Brad Maltese were earlier reported to be set to join Howden.

The broker will lead London teams focusing on Europe, as well as the new European Broking Solutions team.

The Week in 90 Seconds: Biometric data and cyber; Greensill collapse; Guy Carpenter’s Priebe on pandemic risk; Texas storm; Marsh McLennan’s Glaser