Reinsurance broker Guy Carpenter has announced a raft of changes as it integrates the JLT Re team into its structure, part of which includes the creation of a new Global Capital Solutions Group that will include the insurance-linked securities (ILS) practice GC Securities.
The new Guy Carpenter Global Capital Solutions Group will be led by David Priebe, Vice Chairman of Guy Carpenter.
The unit will include two component parts, Global Capital Solutions and GC Securities, and will be tasked with working closely with Guy Carpenter’s Analytics, Strategic Advisory and broking teams.
GC Securities will continue to be led by Shiv Kumar as President of the unit, remaining responsible for the insurance-linked securities and M&A practices at Guy Carpenter.
Ed Hochberg, the CEO of North America at JLT Re, will take on the role of Head of Global Capital Solutions, advising broking clients on capital, reinsurance optimisation techniques and risk transfer solution design. Hochberg will also support the overall integration of JLT Re’s North America business within Guy Carpenter.
Peter Hearn, President and CEO of Guy Carpenter, commented, “The combination of Guy Carpenter and JLT Re’s capabilities and expertise will create an exciting opportunity to deliver enhanced value to clients across the globe through a structure that is intuitive and aligned with our strategic priorities.”
Today’s announcement featured numerous other moves and leadership changes in the reinsurance broker, as the JLT business gets integrated into Guy Carpenter more fully.
The company said that the announcements reflect “ongoing strategic efforts to align and integrate the capabilities of both Guy Carpenter (GC) and JLT Re.”
Hearn said, “These roles will be filled by experienced and talented leaders who will have a positive impact on our business. I congratulate them and look forward to working with them in their important new roles.”