Reinsurance broker Guy Carpenter has launched a new business unit to provide services to carriers and MGAs operating in the program market.
Guy Carpenter North America CEO John Trace
The unit, GC Access, will be led by Michael Jameson, previously head of Guy Carpenter’s program division.
Jameson will be responsible for overseeing all activities across the new unit and will report to John Trace, Guy Carpenter’s CEO of North America.
“The program market has expanded rapidly in recent years, creating huge potential for our clients to grow and capitalize on the significant opportunities that exist in this sector,” Jameson said.
“Through GC Access we are able to evaluate new program opportunities and based on a clear understanding of our clients’ requirements help them to access and take advantage of them.”
Trace said GC Access “represents the scale and scope of capabilities and expertise that Guy Carpenter can bring to support this important client segment”.
“From world-class analytics and an unrivalled breadth of specialist knowledge through to our unparalleled depth of market relationships, we can offer a fully bespoke range of integrated services that span the full spectrum of MGA program solutions,” he added.
Services provided through the new unit include carrier and reinsurance transactions, captive support, insurtech expertise and program start-up roadmaps.
Guy Carpenter said the new unit will “help clients develop fully optimized program solutions, combining focused expertise, market-leading analytical capabilities, global reach and an expansive network of insurer and reinsurer relationships to precisely and efficiently match MGAs and carriers”.
The expanding brokered MGA market was recently calculated by R&Q – the operator of program writer Accredited – at $100bn in the US and Europe.