MMC-owned advisers aids Tower’s Lloyd’s presence

GC Securities was the financial adviser to Tower Group’s $75m (£47.1m) investment in Canopius Group.

The advisory firm is the capital markets arm of reinsurance broker Guy Carpenter, which is in turn owned by Marsh & McLennan Companies.

Tower president and chief executive Michael Lee said: “This investment in Canopius and the commensurate rights are strategically important to us. This will assist in our goals of establishing a presence at Lloyd’s and expand our operations in Bermuda. The advice and guidance provided by GC Securities during this transaction was insightful and professional, a welcome addition to our broking relationship with Guy Carpenter.”

Guy Carpenter vice chairman of international operations Vicky Carter said: “It was a privilege to be able to work closely with Michael and his team at Tower to identify, negotiate and conclude this transaction. We believe our ability to deliver financial advisory services through our GC Securities platform is a meaningful asset to our clients and our organisation.”