In his new position, Mr. Petka will assume a senior leadership role within GC Access, responsible for overseeing solution development and client management. Instant Watch Options; A year of big losses pushed the next years document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Analysts at JP Morgan have estimated that total natural catastrophe , Specialist analytics and consulting firm Insurance Capital Markets Research (ICMR) , P&C insurer Chubb has appointed industry veteran Steven M. Hill . Commenting on the launch, John Trace, CEO of North America at Guy Carpenter, said: GC Access truly represents the scale and scope of capabilities and expertise that Guy Carpenter can bring to support this important client segment. Bradley Maltese, deputy CEO of UK and Europe at JLT Re, will become vice chairman of Global Specialties, reporting to Mr. Boyce. We deliver insight into the global (re)insurance market to help you achieve your capital, growth and volatility goals. Marsh McLennan is the leader in risk, strategy and people, helping clients navigate a dynamic environment through four global businesses. Tim Gardner, CEO of Guy Carpenter North America, and John Trace, president of Guy Carpenter US, will continue in their leadership roles. WebGuy Carpenter analytics professionals provide critical measurement and insight in an industry where knowledge is a competitive advantage. Understanding the unique perspectives of each rating agency is paramount to managing credit ratings. The unit offers a range of services to carriers and MGAs operating in the dynamic program market, including carrier and reinsurance transactions, captive support, insurtech expertise and program startup roadmaps. October 19, 2020 This company Shiv Kumar will continue as president of Guy Carpenter Securities, responsible for the insurance-linked securities and mergers and acquisitions practices. by Canadian Underwriter Staff. Advisors whove been there. Follow. Narrowing the Protection Gap: Climate Change and the Public Sector. Technology-enabled analytics put you in control. Most recently, he was Senior Vice President responsible for new account production and account management. Overview. His expertise lies in specialty and alternative reinsurance products, including captives, risk retention groups and programs. The Ratings Advisory team works in collaboration with the rest of your Guy Carpenter team to provide best in class solutions to achieve your strategic and rating goals. Save my name, email, and website in this browser for the next time I comment. James Nash will continue as CEO of Guy Carpenter International. He will report directly to Robert Johnston and John Fletcher, CEO of Bermuda. Commenting on these appointments, Mr. Askew has been a managing director at Guy Carpenter, a reinsurance broker and advisor owned by Marsh & McLennan Companies Inc., for all but one year since 2009. Get in touch directly using our contact form. Ed Hochberg, CEO of JLT Re in North America, will become head of the Global Capital Solutions practice, advising clients on capital, reinsurance optimization, and risk transfer solutions. WebJohn Trace, CEO, North America, Guy Carpenter, added: GC Access has already helped to set a new standard for program delivery in the MGA sector since its launch in 2020. Guy Carpenter delivers a powerful combination of broking expertise, trusted strategic advisory services and industry-leading analytics to help clients adapt to emerging opportunities and achieve profitable growth. Our ability to continually attract great talent to our organization is a further testament to the leading position that we have established., Click here to register to receive e-mail updates >>. Insurance Insider is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730, Book a call with a member of the team to discuss your subscription options, Aircraft engines lessor sues insurers over ~$90mn losses from Russia-Ukraine war, AerCap admits contact with Russian airlines over potential settlements, Hiscox launches full-cycle broker extranet, IGI Q4 profit rockets to $25.7mn on investments, NEP growth, BMS hires Price Forbes Collier and Saggers in energy expansion, The Week in 90 Seconds: Lloyds look-ahead; Renewable energy divide; American Club interview, Scor management insists dividend policy unchanged despite cut, Discover things you shouldn't even know yet. Alongside Mr. Underwood, he will focus on delivering programs for U.S. regional clients in the MGA sector. Analytics professionals dovetail with our Business Intelligence specialists who compile market data for benchmarking and pricing strategies. The COE will facilitate Guy Carpenters delivery of specialized capabilities for these clients and prospects, including market-entry analysis, portfolio construction, actuarial support, rating advisory and capital modeling. Tim Gardner, CEO of Guy Carpenter North America, and John Trace, president of Guy Carpenter US, will continue in their leadership roles. 1. Through the range of services and analytical solutions that Michael and the team offer, we are helping position our clients to capitalize on the expanding opportunities this sector provides. John J. Matt and Riley are both seasoned practitioners in the MGA arena who bring depth of market insight that is critical to developing the fully optimized program solutions we deliver for our clients., John Trace, CEO, North America, Guy Carpenter, added: GC Access has already helped to set a new standard for program delivery in the MGA sector since its launch in 2020. We deliver that person. Prior to this role, he was President, U.S. and was responsible for Guy Carpenter's New York Metro Treaty Region. Most share a similar criteria structure (balance sheet, operating performance, business profile) but the similarities diminish as you take a closer look across the rating agency landscape to the scope, experience and coverage of each rating firm. The application helps you: GC AdvantagePoint applies a powerful analytic engine to risk insights previously viewed only in isolation. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy. Deeply specialized quantitative skills and Patrick Lundy, CEO of Zurich Canada from 2012 through 2017, is now NFP Canadas senior vice president of manufacturing and real estate. In 1923 Carpenter met with cotton insurance brokers Henry W. Marsh and Donald R. McLennan during a transatlantic crossing. What Are the Key Elements of a Captive Feasibility Study? Website Privacy & Cookies and Disclaimer. Mr. Underwood is a highly accomplished senior broker who also joins from Willis Re. | John Trace has been working as a Chief Executive Officer (North America) at Guy Carpenter for 19 years. His decades of local market knowledge and understanding of the unique demands of our clients will ensure that our Canadian operations continue to go from strength to strength.. Based in Dallas, Texas, they will report to Michael Jameson, President, GC Access. Where models are insufficient or non-existent we have developed our own. He succeeds Donald Callahan, who stepped down from the role after 20 years. Connections. From 1999 through 2009, Askew was executive vice president of Benfield Canada. He is a member of the firm's Executive Committee. Guy Carpenters long-term commitment to maintaining a deep talent pool is clearly evidenced by Peters promotion, John Trace, Guy Carpenters CEO of North America, commented. Why smaller brokerages have an edge in the talent war, What the IFRS 17 temporary adjustments mean for insurers, How to digitize traditional brokerages without breaking the bank, What brokers can anticipate from Gore Mutual in 2023, Going down the rabbit hole of customer reviews. Callahan will remain with Guy Carpenter in Canada, dedicating his time and expertise to working with clients. This experience and expertise is a valuable resource for clients to help mitigate the cost and time needed to manage ratings. Mr. Petka brings more than 22 years of broking experience to the role, with extensive knowledge of the U.S. auto and property sectors. Trace is CEO of North America. He is a member of the firm's Executive Committee. Find the latest insights from Guy Carpenter and Marsh McLennan expertson the issues impacting your risk, capital and strategic goals. Guy Carpenters long-term commitment to maintaining a deep talent pool is clearly evidenced by Peters promotion, John Trace, Guy Carpenters CEO of North Richard Morgan, managing director, Guy Carpenter Global Specialties, will become head of Nonmarine Specialties, reporting to Mr. Boyce. The company currently maintains a large portfolio of InsurTech clients totaling nearly $3 billion in direct written premium (DWP), including many of the initial public offering (IPO) and special purpose acquisition companies (SPAC) transactions. Most recently COO of American International Group (AIG) Canada, Lipman took over the role from Lisa Duval, who had served as Lloyds Canadas interim attorney-in-fact and chief agent since 2019. Askew was director of Canada at QBE Services Inc. in 2016-17. By bringing together an extensive team of sector experts exclusively dedicated to this rapidly evolving environment, our aim is to provide the most relevant services and solutions, coupled with market insight and intelligence to support industry innovation., Will Garland, President, Centers of Excellence, Guy Carpenter, added: The establishment of the InsurTech COE is a clear next step for Guy Carpenter. Profile: Executive vice president of Benfield Canada from 1999 through 2009. James Boyce, currently deputy CEO Global Specialties and head of Nonmarine Specialties at Guy Carpenter, will become CEO of Global Specialties. Guy Carpenters MetaRisk Reserve predictive modeling tool for reserve risk is the first of its kind: a tool so easy to use that it can be integrated into a spreadsheet with any data, allowing our clients to perform sophisticated analyses to: MetaRisk Reserve captures hidden inflationary trends in historical data, enabling clients to model how inflation increases alter their reserve picture going forward. Narrowing the Protection Gap: Climate Change and the Public Sector. Commenting on the appointments, Mr. Jameson said: Todays announcement of these two senior appointments demonstrates our full commitment to building on the considerable success achieved to date by GC Access. Randy Carroll, CEO of the Insurance Brokers Association of Ontario (IBAO) from 2005 through 2014, is now an advisor with Apollo, a Toronto-based insurtech that aims to cut down the amount of time it takes a broker to process applications. Our job is putting knowledge at your fingertips and know-how in the room. Carpenter had a better idea: rates based on a rolling average of losses over many years. Guy Carpenters Reinsurance Decision Tool provides you a transparent balanced scorecard of those metrics, giving you confidence in understanding and communicating the value of your reinsurance purchases. The use of this game-changing disaster response technology provides benefits in the real time management and assessment of catastrophes, said John Trace, Guy Carpenter executive vice president. Ad - Leaderboard - AXA, Call us toll free: (800) 827-4242 Or Contact Us, Learn more about Captive.com Sign up to get our free newsletter, Captive.com, International Risk Management Institute, Inc. (IRMI), 12222 Merit Drive, Suite 1600, Dallas, TX 75251-2266, Copyright 20142023 International Risk Management Institute, Inc. (IRMI). Narrowing the Protection Gap: Climate Change and the Public Sector, Chart: Guy Carpenter Continental Europe Property Catastrophe Rate on Line Index, 2000-2023, Video: Guy Carpenters David Priebe Discusses ROL Index, Market Conditions, Chart: Guy Carpenter US Property Catastrophe Rate on Line Index, 2000-2023. Most of these tools 'telescope' from the granular to enterprise scale, informing strategic decisions as well as day-to-day transactions. WebGuy Carpenter has the scope and sophistication to help insurers develop durable capital structures using a mix of permanent and market-sourced capital, including catastrophe bonds, Insurance-Linked Securities, sidecars, collateralized reinsurance vehicles and Industry loss warrants. John Trace, Guy Carpenters CEO of North America, commented on the smooth transition between Askew and Don Callahan, who is well-known in Canadian P&C Contribute. Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has appointed Matt Petka as Managing Director and Riley Underwood as Senior Vice President within its GC Access business unit. Guy Carpenter brings together the world's top (re)insurance specialists, industry-leading analytics and the financial strength of Marsh McLennan to offer you a vast network of expertise across a broad range of industries and capabilities. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); The past few years have felt like a lesson in supply chain fragility. For them, and those who join us today, the durability of the firms leadership is more than a fact. See John J Trace's compensation, career history, education, & memberships. Mr. Harrison will also lead the formation of a new London-based operation to service and source business nonaffiliated with Guy Carpenter, which will be overseen by Peter Hearn, president and CEO of Guy Carpenter. Marsh McLennan is the leader in risk, strategy and people, helping clients navigate a dynamic environment through four global businesses. What Is a Fronting Arrangement and Why Do Captive Insurers Use Them? E: Matthew.Eagle, David M. LightfootHead of GC Analytics - AmericasP: +1.917.937.3195 Accessibility. Guy Carpenter & Company, LLCis a leading global risk and reinsurance specialist with more than 3,200 professionals in over 60 offices around the world. John led the development of GC Marketplace and has led the Market Relationship Management initiative in the U.S. WebJameson will be responsible for overseeing all activities across the new unit and will report to John Trace, Guy Carpenters CEO of North America. Other appointments in Kevin Fisher, currently CEO of Guy Carpenter Global Specialties, will become chairman of Guy Carpenter UK & Specialties. Find the latest insights from Guy Carpenter and Marsh McLennan expertson the issues impacting your risk, capital and strategic goals. It is a promise. Guy Carpenter brings together the world's top (re)insurance specialists, industry-leading analytics and the financial strength of Marsh McLennan to offer you a vast network of expertise across a broad range of industries and capabilities. John led the development of GC MarketPlace and has led the Market Relationship Management initiative in the US. WebJohn Jenkins, CEO of P&C Reinsurance Operations in the Americas, SCOR Jed Rhoads, President, Global Re, Markel Global Re Trevor Carvey, CEO, Conduit Re Lisa Butera, The systematic approach does more than test the models. GC AdvantagePoint generates a comprehensive view of all profitability components, helping clients align day-to-day underwriting decisions with enterprise goals. For the best experience we recommend upgrading to the latest version of these supported browsers: I wish to continue viewing on my unsupported browser. We are the industry leader in automatic and semiautomatic programs that enable clients to address individual risks with precision Facultative Reinsurance | Guy Carpenter GLOBAL LOCATIONS 24. Having good data and analytics alone will not be enough, it warned, as successful firms will be those who are able to leverage data and turn it into actionable strategies that create opportunities for growth. Peter Askew is the new president and CEO of Guy Carpenter & Company LLCs Canadian operations. Chairman, Global Capital Solutions, International, General Counsel and Chief Compliance Officer. GC AdvantagePoint integrates point-of-sale decision making with strategic portfolio planning and performance management in a single, easy-to-use solution. In this role, Mr. Fox will be responsible for servicing multinational clients in the region and producing new business, as well as working with Mr. Gallagher on designing and delivering key strategic priorities for the region. Only email is mandatory, but the more you tell us about yourself the better we can serve you in future. GC Access provides dedicated MGA program business solutions. WebGuy Carpenters David Priebe, Chairman, and John Trace, CEO, North America, joined The Insurer TVs Leading Voicesseries to discuss conditions connected with January 1 renewals Contract language written by Carpenter himself still appears in reinsurance contracts issued by our company and its competitors around the world. The Global Capital Solutions Group will be led by David Priebe, Guy Carpenter's vice chairman, and will be made up of Global Capital Solutions and Guy Carpenter Securities. Phone: (212) 345-5000. Companies. We've become a happy home for some talent that was out there, that was looking for a more stable platform to work off, he said. For the first time, producers and insurers could anticipate rates and manage costs. The Carpenter Plan enabled insurance of all losses over a certain level. Marsh McLennan is the leader in risk, strategy and people, helping clients navigate a dynamic environment through four global businesses. Your email address will not be published. Until this past March, Lundy was national business unit leader, general industries at Purves Redmond Limited. MetaRisk brings underwriting, reserve, catastrophe, credit, and risk assessment capabilities together in a single economic capital planning solution. Guy Carpenter announced the appointments of Matt Petka as Managing Director and Riley Underwood as Senior Vice President within its GC Access business unit, with immediate effect. Mr. Fisher, Mr. Boyce, and Mr. Morgan's appointments are effective immediately. All content copyright Steve Evans Ltd. 2021 All rights reserved. The COE will build upon the many successes that Guy Carpenter has achieved in the InsurTech space to date, which began in 2018 with the creation of GC Genesis as an advisory offering. Matthew EagleHead of International AnalyticsP: +44.20.7357.5248 WebJohn J. New and evolving criteria, untimely requests for information during and post events, poor or little analyst communication are just a few challenges in todays complex and uncertain environment that make managing credit ratings increasingly difficult. Trace said: I am delighted to welcome Robert and Peter to Guy Carpenter. Simon Keeley, currently head of London North America for Guy Carpenter, and Mark Higgins, currently head of London North America for JLT Re, will both report to Mr. Harrison and form part of the senior leadership team that will integrate the businesses and position the combined entity for continued growth. | WebGuy Carpenter brings together the world's top (re)insurance specialists, industry-leading analytics and the financial strength of Marsh McLennan to offer you a vast network of The appointments are subject to the closing of the transaction between Guy Carpenter's parent company, Marsh & McLennan Companies, and JLT.