Marsh McLennan reinsurance specialist Guy Carpenter announced it will acquire the remaining 51.5% of shares in Carpenter Turner, an Athens-based reinsurance broking and advisory firm. The financial terms of the transaction, expected to close by year-end, were not disclosed.
As part of the acquisition, Alexander Turner (pictured above), the current CEO of Carpenter Turner, will become CEO of Guy Carpenter Greece. Turner will report to Julian Enoizi, CEO of Guy Carpenter Europe, and oversee the firm’s reinsurance operations in Greece and Cyprus.
He will also collaborate with Marsh McLennan’s other businesses – Marsh, Mercer, and Oliver Wyman – to provide comprehensive support to clients in the region.
Dean Klisura, president and CEO of Guy Carpenter, highlighted the significance of the acquisition.
“The combined business will enable us to deliver market-leading solutions and further signals our ongoing commitment to investing in Southern Europe. We’re excited to leverage this powerful combination of our fully integrated resources and expertise as one firm and look forward to continuing to support our clients’ needs,” Klisura said.
Turner described the acquisition as a natural progression of the longstanding relationship between Carpenter Turner and Guy Carpenter.
“Our team will now have access to unrivalled risk and reinsurance services and solutions, as well as a global network that can support our further growth ambitions,” Turner said. “I look forward to collaborating with our clients, and addressing their risk challenges with innovative solutions and unparalleled insights.”
Carpenter Turner, founded in 2013 as a joint venture between its local management and Guy Carpenter, has focused on reinsurance in Greece, Cyprus, the Balkans, and Turkey. The firm combines regional expertise with Guy Carpenter’s analytical resources and global market access.
Once the transaction is complete, Carpenter Turner will rebrand as Guy Carpenter Greece. The entity will offer a wide range of global capabilities, including treaty and facultative reinsurance, advanced data and analytics, strategic advisory services, and capital markets solutions. This integration aims to deliver enhanced support for clients navigating complex risk environments in the region.
What are your thoughts on this story? Please feel free to share your comments below.
