Just days after introducing a new MD, Guy Carpenter & Company, part of Marsh & McLennan, has more news to share.

The company has announced the launch of Hybrid Solutions UK – a division of Guy Carpenter Fac – which will focus on developing semi-automatic facultative solutions. They will sit between traditional transactions and treaty programs, with the firm believing that their development will help it provide greater customisation opportunities for clients.

At the head of the division will be Laurence Upton, who has been appointed as managing director and head of Hybrid Solutions UK. He makes the switch from a role as head of London Market Fac at Willis Towers Watson and will take responsibility for growing the new division from his London base.

He will now report to Dominic Samengo-Turner, the global head of facultative, who is thrilled with both Upton’s arrival and the launch of the new division.

“Hybrid Solutions UK has been established in response to increasing cedent demand for more efficient and flexible solutions that effectively bridge the gap between traditional facultative solutions and treaty products,” he said. “We have brought together a market-leading team in the facultative arena and, under Laurence’s leadership, we aim to deliver precisely structured and highly cost-effective risk transfer solutions.”