Reinsurance broker Guy Carpenter has announced the hiring of Miles Shephard from Aon, who will join the company as Managing Director and Head of GC Access, International, its specialist program capacity focused unit.
GC Access is dedicated to program business and works to connect managing general agents (MGA) with capacity, including enabling access to the capital markets.
Shephard is a high-profile hire, coming from Aon’s Reinsurance Solutions where he was Executive Chairman, Global MGA & Portfolio Solutions.
He will join Guy Carpenter in October 2021 and take responsibility for overseeing all activities across the International division of GC Access.
Leading the International GC Access team, Shephard will drive provision of transaction services and program solutions, including carrier selection, insurance and reinsurance placement, capital market access, contract expertise and servicing, as well as analytical and modeling capabilities.
Shephard has worked in specialty insurance and reinsurance for over 35 years. He has also held roles as Head and Founder of the LNA Binding Authority and Programs Unit at Benfield, and previosuly senior roles at SVB Syndicates and RK Carvill & Co.
“We see huge growth potential in the program sector driven by increased carrier interest, market innovation and enhanced structural efficiency,” Michael Jameson, President of GC Access commented. “With the establishment of GC Access and now the appointment of Miles to lead our International operations, Guy Carpenter is primed to deliver our sector expertise, proprietary analytics and unique program tools, bringing MGAs and carriers together in the most efficient and effective way possible.”
Shephard will be based in London and report to Jameson and Kevin Fisher, Chairman of Guy Carpenter UK, Global Specialties and London North America.
Fisher added, “Miles’s appointment as Head of GC Access, International further demonstrates our commitment to adding resources and building out GC Access’ capabilities. He is an outstanding practitioner with unrivalled expertise in the sector and under his stewardship, and with the breadth of capabilities available to him, we will be able to deliver best-in-class solutions for our clients and prospects.”
Servicing and capacity solutions for MGA’s has become a key offering for the major brokers.
MGA’s are growing in number and becoming increasingly specialised, while also being increasingly focused on accessing efficient sources of capacity and reinsurance.
Capital market access is therefore key, as is being able to assist in structuring solutions to help MGA’s tap into the appetite of insurance-linked securities (ILS) funds and their investors.