Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies, today announced that Peter Stubbings has been promoted to CEO of the firm's Bermuda operations, with immediate effect. In addition, Richard Keegan is to join the Bermuda team as Senior Vice President in May.Previously Chairman of the Bermuda office, in his new role Mr. Stubbings will be responsible for both the Retrocession and International Reinsurance Treaty practices, as well as overseeing new business development and the wholesaling of the firm's US business into the Bermuda market. He will continue to report to Kevin Fisher, CEO of Global Specialties.
Commenting on the promotion, Mr. Fisher said: "Our Bermuda office is market-renowned for the strength and depth of experience and expertise that is represented within the team. Peter has over 34 years of experience across the reinsurance market and since taking up the role of Chairman has secured his position as a key figure within the Bermuda market. I look forward to continuing to work closely with him as we endeavour to further strengthen and enhance our position as the Island's leading reinsurance broker."
Mr. Fisher added that Richard Keegan will work closely with the Retrocession team as well as supporting the wholesaling of the US business. Mr. Keegan joins Guy Carpenter from Aon Benfield in Bermuda, where he was a Property Retrocession Broker, and will report to Mr. Stubbings.
Speaking about the appointment, Tim Gardner, CEO of US Operations at Guy Carpenter, said: "We are delighted that Richard will be joining the Bermuda team. Working directly with Kevin and Peter, he will play an integral part in the ongoing development of both our Retrocession and US wholesale activities in the Bermuda market."