Marsh has launched Archer by Marsh, a new unit to help asset managers, as well as life and annuity insurers, establish and operate reinsurance businesses.
The unit will be led by Faisal Haddad, a Bermuda-based member of Oliver Wyman's actuarial practice, as chief executive officer, pending receipt of all necessary approvals.
Archer by Marsh caters to clients exploring new ways to manage and finance insurance liabilities. It will work with clients to make product, asset, capital, and operating decisions as one set, then establish the vehicle to carry them out. As part of the offering, Marsh has formed Mangrove ISAC Life Re, a Bermuda-based incorporated segregated accounts company that facilitates sidecar and affiliate reinsurance solutions.
The unit combines actuarial, capital, risk, reinsurance, life and annuity insurance management, and regulatory expertise to design tailored structures, and will support clients through regulatory approval, establishment, and ongoing operation. Marsh explained that these structures can include standalone reinsurance vehicles, special purpose reinsurers, and dedicated reinsurance cells or incorporated segregated accounts.
Haddad said establishing a vehicle of this kind required a combination of capabilities.
"Successfully establishing and operating a vehicle of this kind requires a combination of capabilities across reinsurance, structuring, operations, governance, and regulation, and Marsh is uniquely positioned to bring these competencies together in a single vehicle," said Haddad. "Its open-architecture model will harness the full breadth of Marsh's capabilities alongside our strategic partner ecosystem, allowing us to assemble the right expertise around each opportunity and develop solutions built around each client's specific needs. Just as importantly, Archer by Marsh provides the infrastructure to put those structures into operation, giving clients a powerful new way to access and participate in the asset-intensive reinsurance market with confidence."
David Weinsier, partner and chief growth officer for Oliver Wyman Actuarial and Insurance & Asset Management, said the industry was changing rapidly.
"The global insurance industry is changing rapidly, and our clients are looking beyond traditional solutions to unlock new avenues of growth, expand their global reach, and capture greater capital and technological efficiencies," said Weinsier. "Archer by Marsh represents a differentiated model to meet those ambitions – bringing together capabilities from across our organization to serve our clients in ways that transcend conventional advisory and brokerage models."
