Posted on 02 Mar 2009
Guy Carpenter & Company, LLC, the world’s leading risk and reinsurance specialist, has agreed to acquire John B. Collins Associates, Inc. (Collins), a privately held company and the seventh largest reinsurance intermediary in the world.
The acquisition will further strengthen Guy Carpenter’s position in the North American reinsurance marketplace and support its strategy to continue to diversify through targeted acquisitions. The strength of Collins’ business in crop, Florida property and regional specialty lines further enhances Guy Carpenter’s existing capabilities. In addition, Collins’ medical malpractice business will complement Guy Carpenter’s existing professional liability platform.
“I am very excited by the prospect of acquiring an organization with such an impressive track record of growth,” said Peter Zaffino, President and Chief Executive Officer of Guy Carpenter.
“Combining the specialty expertise of Collins with our existing platform will deliver better
solutions for our respective clients and create more opportunities for future growth.”
John Collins, Chairman and founder of Collins, said, “The combination of our respective capabilities will benefit both our clients and our organization. We share a common philosophy and commitment to delivering highly valued reinsurance solutions to clients. I look forward to joining our efforts and building on what the Collins business has accomplished over the past 20 years.”
Following the closing of the transaction, Mr. Collins will serve as Vice Chairman of Guy Carpenter and Patrick Denzer, Chief Executive Officer of Collins, will serve as Chairman of Guy Carpenter Americas.
It is expected that the transaction will close early in the second quarter of 2009, following receipt
of regulatory approvals and satisfaction of other closing conditions.