Exclusive: Willis Re adds Summers-led Guy Carp team for marine and energy build-out
By Michael Jones
June 9 - (The Insurer) - Guy Carpenter's deputy CEO of global specialties and global head of marine and energy Jim Summers has resigned alongside at least five senior members of his team to join Willis Re, two senior marine reinsurance market sources told The Insurer.
Summers has acted as Guy Carpenter's global head of marine and energy since May 2011.
WTW confirmed in December that it was re-entering treaty reinsurance broking through a joint venture with private equity house Bain Capital.
Sources said in September that it was likely WTW would hold a meaningful minority stake in the joint venture and effectively rent out its brand.
By holding a minority stake in a joint venture-style partnership, WTW would not be required to disclose costs associated with the build-out in its quarterly results.
WTW, Guy Carpenter and Bain Capital all declined to comment.
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