Guy Carpenter, a global risk and reinsurance specialist and a Marsh McLennan business, has announced the acquisition of Re Solutions, the leading independent reinsurance broker in Israel.
The move represents a significant consolidation within the reinsurance sector. The terms of the transaction, expected to be completed later this quarter, have not been disclosed.
Founded in 2010, Re Solutions is known for its combination of industry expertise, advanced actuarial capabilities, and analytics. The company has built a strong reputation for delivering innovative and client-centric solutions, including a wide range of facultative reinsurance offerings.
Headquartered in Bnei Brak, Israel, Re Solutions operates with a highly respected team of experts. This acquisition further strengthens the already robust relationship between Re Solutions and Guy Carpenter, as the former has been serving as Guy Carpenter’s correspondent broker in Israel since 2011.
Acquisition provides Guy Carpenter with platform to leverage extensive range of services
Upon the completion of the acquisition, the newly formed entity will emerge as the leading reinsurance broker in Israel, offering a comprehensive suite of capabilities, solutions, and advisory services. This acquisition also provides Guy Carpenter with a platform to leverage its extensive range of services and tap into Israel’s vibrant InsurTech market, which is globally recognised as a hub for financial and insurance technology innovation.
Re Solutions’ current CEO, Asaf Grinstein, will transition into the role of CEO for Guy Carpenter Israel, reporting to Dorothée Mélis-Moutafis, Interim CEO of Guy Carpenter Europe. The entire Re Solutions’ team will be assimilated into Guy Carpenter. Grinstein will be in charge of overseeing all reinsurance business in Israel, collaborating with Marsh McLennan’s other businesses, including Marsh Israel, Mercer and Oliver Wyman.
Reflecting on the acquisition, Guy Carpenter’s president & CEO, Dean Klisura said, “The combination of Re Solutions’ well-established Israel operations and respected team with Guy Carpenter’s global solutions and services will bring significantly enhanced benefits to clients across Israel.”
Asaf Grinstein added, “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.”
Source: Fintech Global
