Guy Carpenter acquiring John Collins

Mar 3, 2009

Dallas Business Journal--March 2, 2009

Minneapolis / St. Paul Business Journal – by Chris Newmarker Staff Writer

Guy Carpenter & Co. LLC is buying Bloomington-based John B. Collins Associates Inc. in a move meant to expand its position in the North American reinsurance marketplace.

Collins’ business in crop, Florida property and regional specialty lines will enhance New York-based Guy Carpenter’s existing capabilities, Guy Carpenter said Monday. Collins also has a medical malpractice business that complements what Guy Carpenter has been doing.

“Combining the specialty expertise of Collins with our existing platform will deliver better solutions for our respective clients and create more opportunities for future growth,” Guy Carpenter President and CEO Peter Zaffino said in a statement.

Financial terms of the deal were not disclosed.

John Collins, chairman and founder of Collins, will serve as vice chairman of Guy Carpenter, and Patrick Denzer, CEO of Collins, will serve as chairman of Guy Carpenter Americas.

The acquisition is expected to close early in the second quarter of 2009, pending regulatory approvals and other closing conditions.