Guy Carpenter announced that Tony Gallagher will be appointed Chief Executive Officer (CEO) of the firm’s Pacific Region effective March 1, 2013. Mr. Gallagher will be based in Sydney and will report to James Nash, CEO of the firm’s Asia Pacific region.
Nick Frankland, Chief Executive Officer, EMEA and Franck Pinette, Chief Executive Officer, European Life Business,
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Life and non-life reinsurance are different. One of the major differences is the prominence of the role of the reinsurance broker in non-life reinsurance - more than 75 percent of non-life business is transacted through brokers. This compares with only 5 percent transacted in life reinsurance. Why is there such a pronounced difference? And why is the life market developing a need for more frequent use of brokers?
Nick Frankland, Chief Executive Officer, EMEA and Franck Pinette, Chief Executive Officer, European Life Business,
Contact
Life and non-life reinsurance are different. One of the major differences is the prominence of the role of the reinsurance broker in non-life reinsurance - more than 75 percent of non-life business is transacted through brokers. This compares with only 5 percent transacted in life reinsurance. Why is there such a pronounced difference? And why is the life market developing a need for more frequent use of brokers?
Nick Frankland, Chief Executive Officer of EMEA Operations, Guy Carpenter, described the market as “a diverse region for Guy Carpenter.” He said: “We have to look in several directions and understand and manage different cultures, regulations and levels of sophistication and development.” He concluded that: “The EMEA region provides a varied market requiring flexibility, nimbleness and a broad and deep level of knowledge, but it is a region we see as full of opportunities.”
James Nash, Chief Executive Officer of Asia Pacific, Guy Carpenter, discussed developments in the Asia-Pacific region. He said: “The major catastrophes of 2011 refocused the spotlight on the need for analysis and modeling capabilities, and in particular caused acceleration in the desire to understand ‘non-modeled’ perils.” He highlighted the vast potential afforded by the region, but concluded: “We share in the exuberance about Asia, but we counsel participants to remain rational and vigilant to ensure we identify when irrational exuberance is becoming apparent or escalating.”
