Guy Carpenter
| Company type | Division |
|---|---|
| Industry | Reinsurance brokerage |
| Founded | 1922 |
| Founder | Guy Carpenter |
| Headquarters | New York , United States |
Area served | Worldwide |
| Parent | Marsh McLennan |
Guy Carpenter & Company, LLC is an international expert in risk and reinsurance headquartered in New York, with a presence spanning more than 60 offices globally. In 2021, the firm facilitated the placement of over $51 billion in gross premium volume, solidifying its position as a top-tier reinsurance brokerage.
As a division of Marsh McLennan, Guy Carpenter was integrated into Marsh & McLennan Companies following its acquisition in 1923.
1922–1999
The company was established in 1922 by Guy Carpenter (1869–1935) and merged approximately one year later with MMC founders Henry W. Marsh and Donald R. McLennan. Prior to this, Carpenter oversaw the Atlanta-based Cotton Insurance Association, founded in 1905.
The Carpenter Plan
The Carpenter Plan introduced the concept of averaging losses over multiple years rather than depending solely on the previous year's figures, thereby transforming insurance agreements to emphasize exclusions instead of inclusions. This methodology resulted in more all-encompassing contracts. Traditional fire insurance typically covered direct fire damage but excluded consequential losses, such as a bale of cotton damaged during transport. Carpenter’s strategy, which was discussed with Lloyd's of London in 1915, sought to close these coverage gaps by clarifying the terms of protection.
2000–present
Guy Carpenter & Company maintained office space on several floors within both World Trade Center towers until the events of September 11, 2001.
In February 2020, the company entered into a multi-year licensing arrangement with Karen Clark and Company (KCC), granting access to sophisticated natural catastrophe models, analytical tools, and software. This collaboration enhances Guy Carpenter’s capabilities in catastrophe risk evaluation.
Additionally, the firm has ventured into cyber insurance by partnering with Symantec (NortonLifeLock) to create models that assess both the frequency and severity of cyber risks. This initiative responds to increasing market needs driven by a rise in ransomware incidents and escalating costs associated with cyber insurance coverage.