Aon Benfield now formed with Andrew Appel as CEO and
Michael O’Halleran as chairman. Job cuts over the next
three years expected in the 500–700 range. Cost savings:
$185 million. >> Grahame Chilton, former CEO at Benfield,
becomes chairman of Aon Specialty, a new global specialty
brokerage unit. He will also be vice chairman of Aon Group and
lead a five-year business development effort across all areas
of Aon. >> Aon hires Jim Finnamore as regional director
of environmental services group for Asia-Pacific. He moves over
from Marsh. >> Joins with Allianz Global Corporate &
Specialty to offer “Double A Protect” for non-U.S.,
non-financial companies to protect buyers in the event an
insurer of underlying layers becomes insolvent. (See Allianz
entry Market News for further info.) >> Now has policy
covering shipowners, charterers and cargo owners for loss of
earnings caused by piracy. The policy is written by
Lloyd’s and London Market insurers, is no-deductible,
standalone coverage meant to complement existing hull, war,
cargo and P&I.
ARTHUR J. GALLAGHER
Buys The Treiber Group and Treiber Agency Group, both
located in Garden City, N.Y. The Treiber Group is a retail
brokerage. Treiber Agency Group is a wholesale brokerage.
>> Also purchases Continental Special Risks, a surplus
lines brokerage in Georgia. >> Acquires HR Group, an
employee benefits brokerage in Tennessee.
APEX GLOBAL PARTNERS
Acquires Brooks Bittner and Associates, an employee
benefits brokerage in Dallas. Joe Bittner will continue as
president of the Brooks Bittner division and becomes leader of
Apex’s middle-market employee benefits services
Acquires Sage Insurance Group located in Bend, Ore. It
will conduct business as Beecher Carlson and remain in its Bend
BROWN & BROWN
Buys Stewart & Tunno Insurance Agency of Portland,
Ore. Operations will be combined with Brown & Brown’s
existing Portland office. >> Also acquires Agency
Associates, which will merge with Brown & Brown of Indiana.
>> Agrees to by small-business unit of Conner Strong
Companies, a provider of commercial p-c insurance and employee
benefits products and services in Cherry Hill, N.J. Joseph
Morrissey, Jr. will lead the commercial lines operations.
>> Buys R.E. Sutton & Associates, an employee
benefits specialist in Indiana, to operate as separate
specialty unit with Brown & Brown, keeping its own name.
>> Acquires assets of Alexander & Bolton, one of
Louisiana’s longest-operating agencies, founded in 1890.
It will become a division of the existing Lafayette, La.,
operation under Mark Romero’s leadership. >> Adds
Charter Insurance Services of Albuquerque to the existing Brown
& Brown office there, under Scott Jones.
Adds new field division to provide better customer
service to agents, respond to growth in product lines and
client base, and establish a local presence across the nation.
>> Expands product line to include airport property, a
mobile storage endorsement to the self-storage program, and
equipment breakdown for online quoting and policy issuance.
Introduces Wildlife Management Program, which provides
general liability, umbrella/excess liability, commercial auto
and workers comp for the wildlife management and animal control
industry. General liability limits up to $3 million aggregate,
$1 million per occurrence.
BURNS & WILCOX
Promotes Daniel Muldowney to CFO. >> Promotes
Anthony Cugini to manager of Houston office. >> Gina
Jones, from AIG, joins as director of specialty programs and is
based in the Denver office.
Says it will discontinue treaty reinsurance business in
April—no new placements or renewals. Cites
“escalating central costs and current economic conditions
that have fundamentally changed our outlook on the