Guy Carpenter to buy Israeli reinsurance broker Re Solutions

Guy Carpenter, the reinsurance broker arm of Marsh McLennan, is acquiring Israeli independent reinsurance broker Re Solutions for an undisclosed sum. The acquiring firm anticipates the deal to close this quarter.

Re Solutions has served as Guy Carpenter’s correspondent broker in Israel since 2011.

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

Following closing, Re Solutions CEO Asaf Grinstein will become CEO of Guy Carpenter Israel. All Re Solution employees will join the newly formed company, according to Guy Carpenter.

“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,” Grinstein said in a release.

During the first quarter, Guy Carpenter’s revenue was up 10% compared with the year prior and reached $1.1 billion, according to the company’s quarterly report.

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