Guy Carpenter, a leading global risk and reinsurance specialist and a business of Marsh McLennan announced that it has entered into an agreement to acquire the remaining 51.5% of shares of Carpenter Turner, an Athens-based regional leader in the reinsurance broking and advisory business, the company said in its press-release.

Carpenter Turner’s CEO, Alexander Turner, will become CEO of Guy Carpenter Greece. Mr. Turner will be responsible for leading all of the firm’s reinsurance business in Greece and Cyprus, and will closely collaborate locally with Marsh McLennan’s other businesses, including Marsh, Mercer, and Oliver Wyman, to support clients.

“Following our successful joint venture launch 11 years ago, our acquisition of the remaining shares in Carpenter Turner is an exciting milestone for our colleagues and clients alike. The combined business will enable us to deliver market-leading solutions and further signals our ongoing commitment to investing in Southern Europe. We’re excited to leverage this powerful combination of our fully integrated resources and expertise as one firm and look forward to continuing to support our clients’ needs”, commented Dean Klisura, President & CEO of Guy Carpenter.

“This transaction is a natural evolution of the excellent relationship we have always had with Guy Carpenter. Our team will now have access to unrivalled risk and reinsurance services and solutions, as well as a global network than can support our further growth ambitions. I look forward to collaborating with our clients, and addressing their risk challenges with innovative solutions and unparalleled insights”, Alexander Turner said.