Guy Carpenter to create new reinsurance facility

by Richard Kilner

Story link: Guy Carpenter to create new reinsurance facility

Risk and reinsurance specialist Guy Carpenter & Company has received a grant from the Microinsurance Innovation Facility in order to formulate a reinsurance facility specifically to cater to the needs of microinsurance and microfinance company operations (MFIs).

The Microinsurance Innovation Facility aims to encourage finance for those in developing countries on low incomes who fall outside the criteria for commercial loans.

Guy Carpenter intends to create low-cost, highly effective coverage by building the infrastructure for a multi-line microreinsurance risk-pooling facility.

This facility will provide MFIs with risk transfer solutions.

Peter Zaffino, CEO and president of Guy Carpenter, has stated that the firm is committed to providing risk management solutions to clients throughout the world, including the millions of people in emerging economies.