Guy Carpenter, a leading global risk and reinsurance specialist and a Marsh McLennan business, announced its acquisition of Re Solutions, the foremost independent reinsurance broker in Israel.
Although the terms of the transaction, which is expected to conclude later this quarter, have not been disclosed, this move signifies a promising consolidation in the reinsurance sector.
Established in 2010, Re Solutions blends industry knowledge with sophisticated actuarial and analytics capabilities, fostering a reputation for crafting innovative, client-centric solutions, including a broad facultative reinsurance offering. The firm is headquartered in Bnei Brak, Israel, and operates with a highly respected team of experts. Being Guy Carpenter’s correspondent broker in Israel since 2011, this acquisition strengthens an already solid relationship between the two companies.
Upon completion, the newly formed entity will emerge as Israel’s leading reinsurance broker, offering an extensive array of capabilities, solutions, and advice. This will also grant Guy Carpenter a platform to deploy its comprehensive suite of services, leveraging its profound InsurTech expertise within the Israeli market, a renowned global hub for FinTech and InsurTech.
Re Solutions’ current CEO, Asaf Grinstein, will transition into the role of CEO for Guy Carpenter Israel, reporting to Dorothée Mélis-Moutafis, Interim CEO of Guy Carpenter Europe. The entire Re Solutions’ team will be assimilated into Guy Carpenter. Grinstein will be in charge of overseeing all reinsurance business in Israel, collaborating with Marsh McLennan’s other businesses, including Marsh Israel, Mercer and Oliver Wyman.
Reflecting on the acquisition, Guy Carpenter’s president & CEO, Dean Klisura said, “The combination of Re Solutions’ well-established Israel operations and respected team with Guy Carpenter’s global solutions and services will bring significantly enhanced benefits to clients across Israel.” Mr. Grinstein added, “This transaction is a natural evolution of the excellent relationship we have always had with Guy Carpenter and is great news for our clients and colleagues.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
