Guy Carpenter, the reinsurance specialist business of Marsh McLennan, announced it will acquire Re Solutions, the leading independent reinsurance broker in Israel.
Terms of the transaction, which is expected to close later this quarter, were not disclosed.
Founded in 2010, Re Solutions combines industry experience with sophisticated actuarial and analytics capabilities, together with a strong reputation for developing innovative, client-focused solutions, including an extensive facultative reinsurance offering. These are delivered by a team of experts based at its office in Bnei Brak.
As Re Solutions has been Guy Carpenter’s correspondent broker in Israel since 2011, the transaction builds on the already strong relationship between the two firms.
On completion, the combined entity will be Israel’s leading reinsurance broker, offering a comprehensive range of capabilities, solutions, and advice. It will also provide a platform for Guy Carpenter to provide its full complement of services, including its deep insurtech expertise to the Israeli market, one of the world-leading insurtech and fintech hubs.
As part of the transaction, Re Solutions’ current CEO, Asaf Grinstein, will become CEO of Guy Carpenter Israel, reporting to Dorothée Mélis-Moutafis, Interim CEO of Guy Carpenter Europe, and all Re Solutions’ colleagues will join Guy Carpenter. Grinstein will be responsible for leading all reinsurance business in Israel, and will collaborate with Marsh McLennan’s other businesses, including Marsh Israel, Mercer and Oliver Wyman.
“The combination of Re Solutions’ well-established Israel operations and respected team together with Guy Carpenter’s global solutions and services, will bring significantly enhanced benefits to clients across Israel. Insurers in this fast-growing economy are looking for brokers and advisers that can help them address key issues in an increasingly complex risk landscape,” commented Dean Klisura, president & CEO of Guy Carpenter.
“This transaction, which is driven by our ambitions to invest in Israel, gives us a powerful platform to deliver for clients,” Klisura said.
“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. By combining our expertise with Guy Carpenter’s industry-leading data & analytics, strategic advisory, and capital markets solutions, we will be able to accelerate our development and enhance the services we offer to clients and prospects,” according to Grinstein.
Source: Guy Carpenter
Was this article valuable?
Here are more articles you may enjoy.
German Insurtech Wefox to Replace CEO After Board Rejects Mubadala Sales Plan 
Coverage Needed: Hundreds of Thousands in SE Now in Flood Zones With New Maps 
Big ‘I’ Report: Independent Agency Channel Placed 62% of Premiums in 2023 
US Judge Skeptical of Biden Overtime Pay Rule 
