Guy Carpenter & Co., a global risk and reinsurance intermediary specialist and member of Marsh & McLennan Cos., announced the launch of its new Excess & Surplus Lines Specialty Practice.

Guy Carpenter said the new unit will focus on the needs of E&S insurance companies as they navigate the expansion and contraction of the standard market.

“Excess & Surplus Lines insurance companies have unique business characteristics and needs that are distinct from the standard market,” said Andrew Marcell, managing director and chief executive officer of U.S. operations at Guy Carpenter.

Guy Carpenter said E&S lines insurance companies are facing increased demands for technology-enabled modeling and actuarial services specifically developed for E&S insurers. As a result, the reinsurance intermediary said, these insurance companies are seeking profitable portfolio management, access to capital markets, and peer analysis, as well as predictive and risk modeling.