Guy Carpenter announced that it has made a major strategic investment in a new venture designed specifically to help develop business in Greece, Cyprus and adjacent countries.
Guy Carpenter has acquired a significant interest in the new company, which will be known as Carpenter Turner. With effect from September 9, Carpenter Turner will take over all renewing business from Guy Carpenter’s office in Athens.
The new venture combines the significant regional knowledge and expertise of the Turner family and their associates with Guy Carpenter’s extensive analytical resources and the firm’s access to international markets.
Commenting on the announcement, Nick Frankland, CEO - EMEA Operations, said: “Since opening our office in Athens in 2012, we have been delighted by the strong growth we have achieved in the region. In order to further develop our business and to provide enhanced support to our Greek and Cypriot clients, we have today announced a strategic decision to invest in a new venture set up by the Turner family. The Turner family has an exceptional insight into and relationship with the Greek and Cypriot insurance communities, and we firmly believe that our investment in their enterprise will prove extremely beneficial for our clients.”
Alex Turner, Managing Director, Carpenter Turner, said: “We are delighted that a firm of the caliber of Guy Carpenter has chosen to make such a significant investment in our new company, Carpenter Turner. The firm’s excellent standing in the international arena coupled with their market-leading analytical expertise will prove invaluable to the overall success of our venture.”