The reinsurance broking arm of Marsh & McLennan Companies, Guy Carpenter, has announced the appointment of Shiv Kumar, previously of Goldman Sachs, to the newly created role of President and Global Leader of GC Securities, Capital Markets.
GC Securities is the capital markets investment banking and insurance-linked securities (ILS) focused unit of Guy Carpenter, and has established itself as one of the dominant forces in the catastrophe bond and broader ILS marketplace.
Kumar brings 23 years of experience in the insurance and reinsurance sector and the capital markets, having most recently worked for Goldman Sachs, where he was previously Global Head of Insurance Structured Finance.
His broad industry knowledge and experience, which includes being the project lead for over 100 transactions and the arrangement of $25 billion in financing, while at Goldman Sachs, is expected to enhance GC Securities’ ability to both identify and execute convergence capital solutions that help customers manage risk.
Prior to Goldman Sachs, Kumar worked as Head of Analytical Services at catastrophe risk modeller, AIR Worldwide.
Kumar will report to David Priebe, Vice Chairman of Guy Carpenter, who commented: “Shiv brings decades of highly successful transactional, client-relationship and business leadership capabilities to Guy Carpenter. He will strengthen our ability to develop customized, profit-enhancing and risk-mitigating capital markets solutions for current and future clients
“As demand accelerates for solutions at the intersection of risk and capital, Shiv’s expertise will complement the deep capabilities our industry-recognized GC Securities team already delivers to clients every day.”
President and Chief Executive Officer (CEO) of Guy Carpenter, Peter Hearn, said: “Guy Carpenter’s goal is for our clients to view us as their premier, trusted advisor in the (re)insurance space. We are strategically investing in people, technology and tools that will solve challenges clients face today – and will face tomorrow.
“Shiv clearly will help us develop convergence capital solutions that solve client challenges in a rapidly evolving and volatile market.”
Kumar will oversee the GC Securities Capital Markets team, with leaders reporting in to Kumar including Cory Anger, Global Head of ILS Origination and Structuring, and Chi Hum, Global Distribution Leader.
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