Guy Carpenter to acquire John B. Collins Associates Inc.

Guy Carpenter & Company LLC, a global risk and reinsurance specialist, has agreed to acquire John B. Collins Associates Inc. (Collins), a privately held company and the seventh largest reinsurance intermediary in the world.
Established in 1987, Collins is a privately held company that places reinsurance coverage for companies in the property-casualty, life, and accident and health insurance markets.
Collins has several specialty areas, including professional liability, workers’ compensation, commercial earthquake, Florida property catastrophe, programs, industry loss warranties and governmental programs.
Guy Carpenter says the strength of Collins’ business in crop, Florida property and regional specialty lines will further enhance its own existing capabilities.
In addition, Collins’ medical malpractice business will complement Guy Carpenter’s existing professional liability platform, Guy Carpenter says in a press release.
“I am very excited by the prospect of acquiring an organization with such an impressive track record of growth,” Guy Carpenter president and CEO Peter Zaffino says.
Following the closing of the transaction, Mr. Collins will serve as vice chairman of Guy Carpenter and Patrick Denzer, CEO of Collins, will serve as chairman of Guy Carpenter Americas.
It is expected that the transaction will close early in the second quarter of 2009, following receipt of regulatory approvals and satisfaction of other closing conditions.