Guy Carpenter & Company, LLC has announced the launch of a new Marine & Energy mutual, agency and captive reinsurance solutions practice, and the appointment of Demian Smith as Managing Director to lead this new practice. This practice, which forms part of Guy Carpenter’s Global Marine & Energy Specialty group, is one of several key growth strategies the company is focusing on in the marine & 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 rapidly evolving space, Guy Carpenter will be optimally positioned to deliver marketadvancing, client-centric solutions. Mr. Smith will be responsible for overseeing all marine & energy activities relating to the development of mutual, agency and captive reinsurance solutions and developing opportunities to enhance and expand the depth of services which Guy Carpenter provides to its clients.
Based in London, he will report to Jim Summers, Global Head of Marine & Energy Specialty and Deputy CEO of Global Specialties at Guy Carpenter. Mr. Smith brings over 25 years of London market experience to the role coupled with 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 Limited, a subsidiary of Enstar Group.
Commenting on the announcement, Mr. 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’s leadership, Guy Carpenter is able to demonstrate once again its marketleading ability to match capital and risk precisely and efficiently.”