Guy Carpenter

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.