Guy Carpenter to acquire reinsurance broker Re Solutions
Guy Carpenter, a business arm of Marsh McLennan and global risk and insurance specialist, is set to acquire Re Solutions, an independent reinsurance broker in Israel.
Strengthening bonds
With a sale expected to close at the end of Q2 2023, Guy Carpenter says the acquisition builds on an already strong partnership between the two firms, which have been corresponding brokers since 2011.
Guy Carpenter heralds its Israeli counterpart’s actuarial and analytics capabilities, calling its facultative reinsurance offering “extensive”. Upon acquisition, Re Solutions will integrate with Guy Carpenter, expanding its technological capabilities, range of available solutions and customer advice scope.
Likewise, Re Solutions will offer Guy Carpenter its full complement of services, including its insurtech capabilities and associated fintech hubs.
Shifting roles
Alongside the integration of their operations, Re Solutions’ CEO Asaf Grinstein will become CEO of Guy Carpenter Israel, reporting to the Interim CEO of Guy Carpenter Europe, Dorothée Mélis-Moutafis.
Per the new role, Grinstein will be responsible for leading Guy Carpenter’s reinsurance business in Israel, collaborating with other businesses under the Marsh McLennan umbrella, including Mercer, Oliver Wyman and Marsh Israel.
President & CEO of Guy Carpenter Dean Klisura says: “The combination of Re Solutions’ well-established Israel operations and respected team together with Guy Carpenter’s global solutions and services, will bring significantly enhanced benefits to clients across Israel.
“Insurers in this fast-growing economy are looking for brokers and advisers that can help them address key issues in an increasingly complex risk landscape. This transaction, which is driven by our ambitions to invest in Israel, gives us a powerful platform to deliver for clients.”
Grinstein adds: “This transaction is a natural evolution of the excellent relationship we have always had with Guy Carpenter and is great news for our clients and colleagues.
“By combining our expertise with Guy Carpenter’s industry-leading data & analytics, strategic advisory, and capital markets solutions, we will be able to accelerate our development and enhance the services we offer to clients and prospects.”
