Guy Carpenter today announced that Paul Summers will be joining the company as Managing Director and Head of International Facultative Reinsurance, following completion of his current contractual notice period. He will assume this role from Massimo Reina, who will become Chairman of the division and will concentrate on his duties as CEO of Continental Europe & MENA.
In his new role, Mr. Summers will be responsible for providing strategic and resource leadership across the EMEA, Asia Pacific and Latin American regions, with specific focus on business development. He will be based in Guy Carpenter’s London office.
Mr. Summers has over 20 years of experience in the Facultative Reinsurance market. He joined Aon Benfield in 2007 and has been the Global CEO of the Aon Benfield Facultative Reinsurance Division for the last three years. Prior to this, he led the Retrocession Facultative business at Benfield from where he later joined Aon Re, initially taking responsibility for the UK Facultative business, which expanded to an international position following the merger of Aon Re and Benfield.
Commenting on the appointment, Nick Frankland, CEO of EMEA Operations, said, “Paul will bring a wealth of market experience and leadership qualities to Guy Carpenter, with extensive knowledge of the international region, and he will greatly enhance and further develop our rapidly growing Facultative offering that has so prospered under Massimo’s leadership over the past five years. This positions us for even further growth and ambition over the next five years.”
Mr. Reina added, “We see significant potential to continue to expand our International Facultative operations on a number of fronts and with Paul due to take over at the helm, not only will we look to take full advantage of these opportunities, but also further strengthen our position as the market’s leading provider of Facultative services.”