Two subsidiaries of Marsh & McLennan Companies (MMC) – Marsh and Guy Carpenter – have announced that they will combine their Latin American facultative reinsurance operations with Jardine Lloyd Thompson Group (JLT).
A release said that the combined business will be known as Carpenter Marsh Fac Re. The merger of the businesses will still be subject to regulatory approvals.
Carpenter Marsh Fac Re will be led by Andrew Perry, who currently serves as CEO of Mercer Marsh Benefits (MMB). Perry will be based in Miami and will report to Marsh global placement president Dean Klisura and Marsh CEO of Latin America and Caribbean (LAC) Ricardo Brockmann.
Prior to joining MMB in 2014, Perry (who joined Marsh in 1988) was client and business development leader for Marsh’s LAC region. From 2004 to 2010, he also served as leader of Marsh LAC’s risk management segment.
In addition to Perry’s appointment, Guy Carpenter leader Juan Carlos Gomez has also been named deputy CEO of Carpenter Marsh Fac Re. He will be based in Bogota, Columbia and will report to Perry.
“By combining the facultative reinsurance offerings of Marsh and Guy Carpenter with those from JLT we will be able to offer insurers and insurance buyers a more efficient way to access global reinsurance markets,” said Guy Carpenter international CEO James Nash.
“Carpenter Marsh Fac Re will offer an even wider range of cost-effective risk transfer solutions across LAC,” added Perry, who additionally remarked that he is excited to be leading “a team of unrivalled talent that will deliver deeply specialized expertise across virtually every area of insurable risk.”