In order to expand its capabilities in the reinsurance sector
Guy Carpenter & Company, a risk and reinsurance player, has entered into an agreement to buy all of the issued shares of the London-based reinsurance broker, Rattner Mackenzie from HCC Insurance (HCC), a specialty insurance group headquartered in Houston, Texas.
Guy Carpenter said that the transaction is consistent with its strategy to supplement organic growth with targeted acquisitions. Following successful completion of the transaction, Guy Carpenter will become a significant provider of reinsurance intermediary services to HCC.
Peter Zaffino, president and CEO of Guy Carpenter, said: “We have great respect for HCC and its management team and are extremely proud to become a major trading partner as a result of this transaction. The acquisition of RML is further demonstration of our strategy to build our capabilities in the specialty sector.”
The transaction is expected to close in October 2009. Lexicon Partners (US) acted as financial advisor to Guy Carpenter in relation to the transaction, and Freshfields Bruckhaus Deringer LLP acted as legal counsel.