Man Carpenter swoops Re Options for undisclosed quantity
Man Carpenter pounces on Re Options for undisclosed quantity | Insurance coverage Enterprise America
The ensuing firm will likely be Israel’s main reinsurance dealer
Mergers & Acquisitions
By Kenneth Araullo
Man Carpenter, Marsh McLennan’s world threat specialist, has introduced the acquisition of Israel-based Re Options, the nation’s main impartial reinsurance dealer. The transaction will shut later this quarter, however particulars of the sale weren’t disclosed.
Re Options was based in 2010. The reinsurance choices are supplied by a extremely regarded group of execs primarily based at its workplace in Bnei Berak. Since 2011, the Re Options group has been Man Carpenter’s correspondent dealer in Israel, making this transaction a powerful evolution of the connection between the 2 firms.
Upon completion of the transaction, the mixed entity would be the nation’s main reinsurance dealer. As well as, it would present Man Carpenter with a platform to deliver the complete vary of its providers, together with its deep insurtech experience, to the Israeli market, acknowledged as one of many world’s main insurtech and fintech hubs.
As a part of the settlement, present Re Options CEO Asaf Grinstein will turn out to be CEO of Man Carpenter Israel. Grinstein will report back to Dorothée Mélis-Moutafis, interim CEO of Man Carpenter Europe, whereas all colleagues from the Re Options model will be a part of the newly shaped group. Grinstein will lead all reinsurance operations in Israel, working with different Marsh McLennan firms together with Marsh Israel, Mercer and Oliver Wyman.
Dean Klisura, Man Carpenter’s President and CEO, mentioned the transaction supplies the corporate with a strong platform in Israel to serve clients.
“The mixture of Re Options’ well-established Israeli workplaces and revered group with Man Carpenter’s world options and providers will deliver considerably larger advantages to shoppers throughout Israel. Insurers on this fast-growing economic system are on the lookout for brokers and advisors who can assist them tackle vital points in an more and more advanced threat panorama,” mentioned Klisura.
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2023-05-30 18:25:00
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