In April of this year, it was revealed that Marsh McLennan’s reinsurance broking arm Guy Carpenter had issued a lawsuit against Howden Tiger in London after the latter was accused of poaching over 30 people from Guy Carpenter’s European operations.
According to an internal memo seen today by Insurance Business, the impending lawsuit has since been settled ahead of going to trial, with its resolution seeing Howden agree to a set of demands “to make amends for their actions” against Guy Carpenter.
The announcement revealed that, as part of the settlement, Howden issued the following apology: “The Howden Group acknowledges that it, and certain of its executive officers, engaged in unlawful recruitment from Guy Carpenter as set out in the admissions made to the High Court. Howden Group and the individuals involved, including Elliot Richardson and Massimo Reina, regret the actions they have taken."
In the memo, Dean Klisura, CEO of Guy Carpenter said the settlement sends a “clear signal that unlawful behaviour of this kind is unacceptable, and we will not tolerate it”. He added that Guy Carpenter will always act the defend the integrity of the market for its colleagues and clients.
Klisura expressed his thanks to the Guy Carpenter team for their patience while the matter was resolved – particularly its legal team and those who took the time to assist the legal team and contribute to this outcome.
He added: “We believe in talent mobility and fair competition for the sake of our colleagues and clients. We also believe in integrity and abiding by contractual obligations. It’s not right that others can disregard these standards and treat breaking the law as just another cost of doing business. The court record shows that Howden senior executives acted in blatant disregard for the law by knowingly planning and implementing an unlawful conspiracy.”
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