Guy Carpenter continues fac talent raid
Guy Carpenter has hired a further five staff from Aon Benfield as it continues the aggressive build-out of its facultative reinsurance team, as the broker looks to double its revenues from fac reinsurance over the next five years.
Sources told sister publication Inside FAC that well-regarded producers Steve Jewell, Rob Johns and Ben MacGregor were the latest to hand in their notices at Aon Benfield, alongside former head of operations Ben Graves.
Gary Barnett, the former head of London market property for Aon Benfield Fac, is also understood to be joining the Guy Carpenter fac unit.
In addition, the broker has lured fac specialist Nick Young, a partner at JLT Re, to join the division.
The latest hires follow a summer of intensive recruitment by Guy Carpenter as it seeks to rebuild its facultative capabilities following the January departure of senior producer and fac veteran Malcolm Payton to form a new cell at Grahame Chilton's broking start-up Capsicum Re.
Others who are following Payton to Capsicum Re include Paul Butcher - who previously headed up facultative property, power and terrorism at Guy Carpenter - and GCFac vice president James Elliot.
Leading the exodus from Aon Benfield was former fac CEO Paul Summers, whose departure was followed by that of Neil Mayes, CEO of UK facultative and a respected figure in the energy markets, who also handed in his resignation in June.
Summers has been appointed as managing director and head of international facultative reinsurance at Guy Carpenter, stepping into the role formerly held by Massimo Reina, who has since been named chairman of the division.
Former international head Reina, in addition to being made chairman, is continuing to concentrate on his duties as CEO of Continental Europe and Middle East and North Africa.