Guy Carpenter, the reinsurance specialist business of Marsh McLennan, has announced that it will acquire Re Solutions, Israel’s leading independent reinsurance broker.
Terms of the transaction, which is expected to close later this quarter, were not disclosed.
Founded in 2010, Re Solutions combines industry experience with sophisticated actuarial and analytics capabilities, along with a solid reputation for developing innovative, client-focused solutions, including a wide range of facultative reinsurance offerings. It is delivered by a team of experts based in its office in Bnei Brak.
As Re Solutions has been Guy Carpenter’s correspondent in Israel since 2011, the transaction builds on the already strong relationship between the two companies.
Upon completion, the combined entity will be the leading reinsurance broker in Israel, offering a comprehensive range of capabilities, solutions, and advice. It will also provide a platform for Guy Carpenter to provide a full complement of services, including deep insurtech expertise in the Israeli market, one of the world’s leading insurtech and fintech hubs.
As part of the transaction, the current CEO of Re Solutions, Asaf Grinstein, will become CEO of Guy Carpenter Israel, reporting to Dorothée Mélis-Moutafis, Interim CEO of Guy Carpenter Europe, and all Re Solutions partners will join Guy Carpenter . Grinstein will be responsible for leading all reinsurance businesses in Israel, and will collaborate with Marsh McLennan’s other businesses, including Marsh Israel, Mercer and Oliver Wyman.
“The combination of Re Solutions’ well-established Israeli operations and respected team with Guy Carpenter’s global solutions and services, will bring significant benefits to clients throughout Israel. The insurers of this fast-growing growing economies are looking for brokers and advisors who can help them address key issues in an increasingly complex risk landscape,” commented Dean Klisura, president and CEO of Guy Carpenter.
“This transaction, driven by our ambitions to invest in Israel, gives us a powerful platform to deliver for clients,” Klisura said.
“This transaction is a natural evolution of the excellent relationship we’ve always had with Guy Carpenter and is great news for our clients and partners. By combining our industry-leading data and analytics expertise with Guy Carpenter, strategic advisory, and capital market solutions, we can accelerate our growth and improve the services we offer to clients and prospects,” said Grinstein.
Source: Guy Carpenter
Topics
Reinsurance of Agencies in Mergers and Acquisitions
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