Guy Carpenter appoints Demian Smith to lead new marine and energy captives practice

Guy Carpenter & Company has launched a new marine and energy mutual, agency and captive reinsurance solutions practice and appointed Demian Smith as managing director to lead it.

Smith was until recently a consultant for Lloyd’s broker Smith Bilbrough & Co, before which he was group chief executive of Starstone Holdings, a subsidiary of Enstar Group.

At Guy Carpenter he is responsible for overseeing all marine and energy activities relating to the development of mutual, agency and captive reinsurance solutions, expanding its product range. He is based in London and reports to Jim Summers, global head of marine and energy specialty and deputy chief executive of global specialties at Guy Carpenter.

Summers said: “The role of mutuals, agencies and captives in providing targeted underwriting facilities to the marine and energy market has increased exponentially in recent years as carriers have looked to access niche sectors and distribution channels.”