30 May 2023Analysis

Guy Carpenter to acquire Israel broker Re Solutions

Guy Carpenter is to acquire Re Solutions, an 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 offers actuarial and analytics capabilities, client-focused solutions and an extensive facultative reinsurance offering. The business is based at its office in Bnei Brak. Re Solutions has been Guy Carpenter’s correspondent broker in Israel since 2011.

On completion, the combined entity will be Israel’s biggest reinsurance broker. 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.

Dean Klisura, president & CEO of Guy Carpenter, said: “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. This transaction, which is driven by our ambitions to invest in Israel, gives us a powerful platform to deliver for clients.”

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. 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.”