Guy Carpenter and Marsh merge South Africa fac reinsurance operations
Guy Carpenter and Marsh are to combine their South Africa facultative reinsurance operations into a single business, with the merged unit operating from January 1 under the Guy Carpenter brand.
The unit will be led by Don Wright, who has been appointed head of facultative broking for the region.
Based in Johannesburg, he will report to Jane March, Guy Carpenter’s CEO for South Africa.
Wright has more than 35 years' (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 prior to this was part of JLT Re.
Guy Carpenter said the move is part of a plan to expand its presence across the region.
The reinsurance broker added that the combined operation will provide clients with improved access to the company’s regional and global facultative capabilities and enhance its ability to deliver “structured” and “cost-effective” risk-transfer solutions.
March said: “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.”