Guy Carpenter has announced the launch of a new Marine & Energy mutual, agency and captive reinsurance solutions practice. Demian Smith, formerly CEO of StarStone, part of Enstar Group, has been named Managing Director to lead the new practice. Smith resigned as StarStone CEO in September 2018 after nearly two years in charge.
The new practice will be part of Guy Carpenter’s Global Marine & Energy Specialty group.
Smith will be responsible for overseeing all marine & energy activities relating to the development of mutual, agency and captive reinsurance solutions.
Based in London, he will report to Jim Summers, Global Head of Marine & Energy Specialty and Deputy CEO of Global Specialties at Guy Carpenter.
Smith has more than 25 years of London market experience. Most recently he was a consultant for Lloyd’s broker Smith Bilbrough & Co
Summers said that “the role of mutuals, agencies and captives in providing targeted underwriting facilities to the marine & energy market has increased exponentially in recent years as carriers have looked to access niche sectors and distribution channels. By focusing our extensive capabilities and deep industry knowledge within one practice and under Demian’s leadership, Guy Carpenter is able to demonstrate once again its market-leading ability to match capital and risk precisely and efficiently.”