Guy Carpenter & Company announced its selection as the new placing broker for the Caribbean Catastrophe Risk Insurance Facility (CCRIF). CCRIF is a risk pooling facility for 16 Caribbean governments that is designed to limit the financial impact of catastrophic hurricanes and earthquakes.
Guy Carpenter will engage immediately in preparations for the June 1 renewal of CCRIF’s reinsurance program, employing an integrated, global marketing approach for the Caribbean region executed by dedicated teams in Miami and London. In addition, Guy Carpenter will advise CCRIF’s Facility Supervisor and Board of Directors on the development of CCRIF’s risk transfer strategy and provide important intelligence on individual risk transfer markets (both traditional and capital markets).
The appointment provides CCRIF with full access to Guy Carpenter’s award-winning global services, including an international knowledge base and GC Analytics (SM).
Aidan Pope, CEO of Latin America and Caribbean Operations, stated “This appointment reinforces our commitment to the Caribbean region and government-related risk management initiatives. We look forward to exploring options with the existing reinsurer panel and expanding strategic opportunities with all markets, as well as examining other risk-related projects through GC MicroRisk and our agricultural specialists in the region.”