Aon Benfield Group Ltd. has recruited two brokers for its Capital Advisory and Terrorism Specialty divisions from rival brokerage Guy Carpenter & Co. L.L.C., Aon Benfield said in a statement Wednesday.
Eric Paire will lead the London-based reinsurance broker’s new capital advisory unit and report to Nick Frankland, Aon Benfield’s U.K. CEO, the statement said. He will be based in London and joins Aon Benfield on Wednesday.
Mr. Paire was most recently head of strategic advisory and Europe Middle East and Africa global partners at Guy Carpenter, a position he held since 2007, the statement said.
Emma Karhan joins Aon Benfield as head of terrorism specialty and reinsurer relationships in London. She will report to Bob Bisset, CEO of Aon Benfield’s Global ReSpecialty division. She will be based in London and will join Aon Benfield on March 20.
Ms. Karhan was most recently managing director within Guy Carpenter’s EMEA practice, the statement said.
“Our Capital Advisory unit has been created specifically to advise clients effectively on both their asset and liability strategies,” Mr. Frankland said in the statement. “In addition, we are evolving our terror offering through enhanced modeling tools and coverage development, which will benefit hugely from Emma’s proven expertise and reinsurer relationships in the class.”
Analysis by U.K.-based reinsurance broker Aon Benfield Group Ltd. found that alternative capital in the reinsurance market grew 10% to nearly $90 billion in the first six months of 2017, accounting for 15% of the global reinsurance market, Artemis.bm reports. Industry experts said that alternative capital's impact on reinsurance pricing could be declining as traditional market players look to work with third-party capital. The fact that rate rises may not live up to expectations at the January 2018 renewals could make capital efficiency all the more important, the experts added.