A group of nine insurance industry firms announced Thursday that they are coming together to form a micro consortium and micro insurance venture incubator (MVI) in an effort to help develop risk management markets in underserved communities in the developing world.
The consortium will consist of American International Group, Inc., Aspen Insurance Holdings Limited, Catlin Group Limited LLC, Guy Carpenter & Company, LLC together with Marsh & McLennan Companies, Inc., Hamilton Insurance Group, Ltd., Transatlantic Reinsurance Company, X.L. Group, plc, and Zurich Insurance Group. Joan Lamm-Tennant, Global Chief Economist and Risk Strategist with Guy Carpenter, has been appointed to serve as the MVI's CEO.
"Increasingly, the growth of our industry is tied to innovation and the positive impact we make on society," said Daniel S. Glaser, president and CEO of Marsh & McLennan Companies. "The MVI applies our collective expertise and intellectual capital to help millions of people around the world."
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