Guy Carpenter Co. has launched a new unit offering dedicated retrocession services to clients in the Asia Pacific region called GC Asia Pacific Retro.
GC Asia Pacific Retro provides a wide range of retrocession property solutions, linking with Guy Carpenter’s existing marine and aviation Global Specialties units in the region, the company said in a statement.
The services provided by the new operation will focus on retrocessional solutions, capital raising, and product and capacity development.
The unit is headed up by Simon Hughes, managing director, and Ben Dunnett, senior vice president. Hughes has worked exclusively in Guy Carpenter’s Asia Pacific division for over 21 years and will be based in London. Dunnett has worked in Guy Carpenter’s Non-Marine Specialty team for 10 years and is based in Singapore.
Hughes will continue in his role as Guy Carpenter’s senior broker for Australasian business. Both will report to James Boyce, head, Non-Marine Specialty, and James Nash, president, International Division.
“GC Asia Pacific Retro provides us with the perfect platform to deliver our specialist retrocession expertise direct to our clients in the region, while also acting as a conduit to the full range of Guy Carpenter’s extensive services,” said Kevin Fisher, CEO, Global Specialties.
“By establishing a dedicated team ‘on-site,’ we are able to precisely translate their risk exposures into the most effective and comprehensive solutions possible, while ensuring that these fit seamlessly alongside the other traditional reinsurance products that we provide,” he added.
“We see this as an opportune time to be opening the doors of our new unit. The remit of the team is expansive and spans retrocession solutions, capital raising and product development to meet the broad-spectrum needs of our clients,” Nash commented.
“Further, our aim is to play a central role in facilitating the growth of the retrocession market in the region, while also expanding the potential afforded by ILS capacity,” Nash continued.
Source: Guy Carpenter