Guy Carpenter has hired two health reinsurance specialists for its Latin America and Caribbean team in Miami, months after rival Howden Re recruited two senior executives from the broker for the same region. James Almaraz and Robert Genovese join as managing director and vice president, respectively, from Worldwide Insurance Associates (WIA).
Guy Carpenter, a business of Marsh McLennan, confirmed the appointments on LinkedIn. The firm said the pair brought health reinsurance expertise that would strengthen its Latin America and Caribbean team's analytical and actuarial capabilities. No start date was given.
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The hires follow a period in which Guy Carpenter has been on the receiving end of competitor recruitment in the region. In March 2026, Howden Re hired two senior executives from the broker to lead its own Latin America and Caribbean expansion. Carlos Garcia joined as managing director, with 22 years of industry experience, and Karina Lopez joined as director with 14 years in Guy Carpenter's Latin American and Caribbean treaty division.
Howden Re's head of Miami, April McLaughlin, described the region at the time as "a large, complex and underserved market where clients are increasingly looking for brokers with genuine local expertise and access to global capacity." McKinsey research cited at the time placed Latin America's gross written premiums growth at 11% annually between 2019 and 2024, though the region still accounts for just 3% of global insurance volume.
The region's protection gap has remained wide even as broker competition has grown. Venezuela's earthquake sequence in June 2026 caused an estimated US$6.7 billion in damage in a country with low insurance penetration. Capacity at the July 2026 renewal was plentiful, with ceding commissions rising as reinsurers competed for access to cedent portfolios.
Almaraz and Genovese bring health reinsurance expertise into that context. Their appointment adds to a series of hires Guy Carpenter has made across specialist functions. The broker separately named Ian Bartholomew as global head of parametric advisory in March 2026, effective June 1, and Dennis Sugrue as head of international business intelligence.
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