Guy Carpenter taps Goldman Sachs exec to lead capital markets unit

Reinsurance broker Guy Carpenter & Company, a wholly owned subsidiary of Marsh & McLennan Companies (MMC), has hired Shiv Kumar as president and global leader of GC Securities, capital markets.

Kumar was previously global head of insurance structured finance at Goldman, Sachs & Co. He has 23 years of experience in the re/insurance sector and capital markets.

At Goldman, Kumar was the project lead for more than 100 transactions and is said to have arranged $25 billion in financing. He covered insurance companies in the property and casualty, life and health, mortgage and public sectors. His expertise includes structuring complex financial transactions to solve client challenges from risk transfer and asset accumulation to capital structure optimisation and legacy portfolio restructuring. Previously, Kumar worked as head of analytical services at AIR Worldwide.

With this new appointment, GC Securities intends to enhance its ability to identify and execute convergence capital solutions that help clients manage risk. Current GC Securities solutions include catastrophe bonds, sidecars, quota shares, collateralised reinsurance, reinsurance transformers, derivatives and industry loss warranties, as well as a suite of reinsurance analytics tools.

Reporting to Guy Carpenter vice chairman David Priebe, Kumar will oversee the GC Securities Capital Markets team. GC Securities leaders, including global head of ILS origination and structuring Cory Anger, and global distribution leader Chi Hum will report in to Kumar.

“Shiv brings decades of highly successful transactional, client-relationship and business leadership capabilities to Guy Carpenter," Priebe commented. "He will strengthen our ability to develop customized, profit-enhancing and risk-mitigating capital markets solutions for current and future clients.

“As demand accelerates for solutions at the intersection of risk and capital, Shiv’s expertise will complement the deep capabilities our industry-recognized GC Securities team already delivers to clients every day.”

Peter Hearn, president and CEO of Guy Carpenter, added: “Guy Carpenter’s goal is for our clients to view us as their premier, trusted advisor in the (re)insurance space. We are strategically investing in people, technology and tools that will solve challenges clients face today – and will face tomorrow. Shiv clearly will help us develop convergence capital solutions that solve client challenges in a rapidly evolving and volatile market.”

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