Reinsurance brokerage Guy Carpenter has announced the promotion of its Bermuda Head of Retrocession broking John Fletcher to become the new Chairman of its island operations, as well as the hiring of James Morris as SVP, who joins the broker from Aon Bermuda.
Guy Carpenter has a prolific property and catastrophe retrocession team in Bermuda, with a strong focus on collateralized retrocession and industry-loss warranties (ILW’s).
Fletcher has been with the company for thirty years, having joined Guy Carpenter in 1998 and worked his way up to become Head of the broker’s Property Retrocessional practice in Bermuda.
Now, as part of the firm’s commitment to long-term succession-planning strategy, he has been promoted to Chairman of the Guy Carpenter Bermuda operations with immediate effect.
The new role will see Fletcher take on responsibility for new business development, as well as having oversight of the Casualty, Specialty and Retrocessional broking teams in the region.
He will report in directly to Kevin Fisher, President of Global Specialties at Guy Carpenter.
Fisher commented on the promotion, “John’s promotion to the post of Chairman is fully deserved and is a central part of our ongoing efforts to strengthen our presence in Bermuda. Over the last five years, he has led the Property Retrocession team to great success, and as he takes the helm of our Bermuda office he will look to expand our activities, targeting new areas for growth and seeking to enhance the expansive service capabilities that the division offers.”
Fletcher has spent much of his broking career, which began in London, in the property retrocession space. He moved to Bermuda in 2013 and took on responsibility for the retro broking team there, a role that saw him regularly interfacing with collateralized retro markets.
Guy Carpenter has also announced the hiring of James Morris to the Bermuda team, who joins the firm as Senior Vice President and Actuarial Analyst. Morris will work in the Global Property Specialty team, providing broking and analytical services to clients and markets in Bermuda and on a global basis.
Before joining Guy Carpenter, Morris worked at Aon Bermuda as a Senior Technical Reinsurance Analyst in the company’s Global Re Specialty division and has experience in structuring reinsurance and retro coverage for clients.
“I would also like to welcome James to our Bermuda team, who I am sure will make a very strong contribution to our ongoing success,” Fisher said.
Timothy Gardner, President of North America Operations at Guy Carpenter, also said, “Our Bermuda office provides one of the largest reinsurance broking operations on the island, offering access to a huge range of expert knowledge, as well as a direct link to the full range of Guy Carpenter’s global capabilities. We are always looking to bolster that expertise, and with James joining the Bermuda team, we are adding someone with vast experience in structuring reinsurance and retrocession solutions and who has a thorough understanding of the specific characteristics of the Bermuda market.”