Guy Carpenter has launched a new marine and energy mutual, agency and captive reinsurance solutions practice, and has hired Demian Smith to lead this new practice as managing director.
This practice, which forms part of Guy Carpenter’s global marine and energy speciality group, is one of several key growth strategies the company is focusing on in the marine and energy sector.
It creates a single platform combining the company’s specialist industry expertise, sector-focused data and analytics, and risk management services. By establishing a team operating exclusively in this evolving space.
As part of his new role, Smith will be responsible for overseeing all marine and energy activities relating to the development of mutual, agency and captive reinsurance solutions and developing opportunities to enhance Guy Carpenter's services.
Based in London, he will report to Jim Summers, global head of marine and energy speciality and deputy CEO of global specialities at Guy Carpenter.
Smith brings over 25 years of London market experience to the role coupled with an expansive knowledge of the mutual, agency and captive sectors.
Most recently, he was a consultant for Lloyd’s broker Smith Bilbrough & Co and prior to this was group CEO of Starstone Holdings, a subsidiary of Enstar Group.
Commenting on the announcement, Summers said: “The role of mutuals, agencies and captives in providing targeted underwriting facilities to the marine & energy market has increased exponentially in recent years as carriers have looked to access niche sectors and distribution channels.”
“By focusing our extensive capabilities and deep industry knowledge within one practice and under Demian Smith’s leadership, Guy Carpenter is able to demonstrate once again its market-leading ability to match capital and risk precisely and efficiently,” he added.
