Marsh names Faisal Haddad CEO of new Archer reinsurance service

Marsh has launched Archer by Marsh, a new service led by Faisal Haddad (pictured) as CEO, to help asset managers and life and annuity insurers establish and operate reinsurance businesses while retaining ownership and strategic control.

Archer by Marsh brings together actuarial, capital, risk, reinsurance, life and annuity insurance management and regulatory expertise to develop structures tailored to clients’ requirements. It supports clients through regulatory approval, establishment and ongoing operation.

The service is designed for asset managers, life and annuity insurers and capital providers exploring alternative ways to manage and finance insurance liabilities. It combines product, asset, capital and operating decisions and can establish vehicles based on existing client capabilities, including an existing balance sheet.

Structures available through Archer by Marsh can include standalone reinsurance vehicles, special purpose reinsurers and dedicated reinsurance cells or incorporated segregated accounts.

Haddad, a Bermuda-based member of Oliver Wyman’s actuarial practice, has been named CEO of Archer by Marsh.

As part of the offering, Marsh has also established Mangrove ISAC Life Re, a Bermuda-based incorporated segregated accounts company designed to facilitate sidecar and affiliate reinsurance solutions.

Haddad said: “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. 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 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. Archer by Marsh represents a differentiated model to meet those ambitions - bringing together capabilities from across our organisation to serve our clients in ways that transcend conventional advisory and brokerage models.”

Did you get value from this story? Sign up to our free newsletters and get stories like this sent straight to your inbox.