Aon CFO Calls It Quits
Aon Corp. announced May 22 that David P. Bolger, executive vice president, chief financial officer and chief administrative officer, will leave the company after the appointment of his successor. Bolger, 49, joined Aon in January 2003, having previously served in various senior positions in Bank One Corp. and its predecessor companies, including American National Bank and First Chicago Corp.
Gallagher Acquires Retail Shop Tropp
Arthur J. Gallagher & Co. has acquired Tropp & Co., headquartered in Lake Forest, Ill. Terms of the transaction were not disclosed. Formed in 1981, Tropp is a retail insurance broker offering risk management, commercial property/casualty and employee-benefits insurance services to an international client base.
Marsh Enters Mideast Joint Venture
Marsh Inc. has entered a joint venture with Zubair Group, a diversified business group in Oman. Marsh Oman LLC will continue Marsh's risk management and insurance services business from its Muscat base, where Marsh has operated since 1981.
Professional Risks Team Poached
In Scotland, Marsh has recruited rival broker Aon Corp.'s Scottish professional risks team. The team will work on client service and development across Marsh's FINPRO National business in Scotland and the north of England. New team members are Garry Hill, Mhairi Scott-Bennett, Shona Van Der Merwe and Robert Morris.
Lockton Lands in Bermuda
Lockton has launched an office in Bermuda to focus on property, energy, financial lines, casualty and health care. Ed Correia has been appointed to lead the development of the new business, together with brokers Philip DiMeglio from JLT Risk Solutions and William Lowe from Aon.
Kinloch Takes on Benefits
New York-based middlemarket brokerage firm Kinloch Holdings Inc. has formed an employeebenefits unit through the acquisition of Nystrom, Palumbo Inc. of Melville, N.Y. Nystrom will be known as KinlochConsulting Group Inc. and will serve as the employee-benefits operation platform for Kinloch's New York hub.
HRH Scoops Up Urman
Hilb Rogal & Hobbs Co. has signed an agreement to buy Urman Co., a Denver- based retailemployee benefits and property/casualty brokerage. Founded in 1970 to serve the needs of school executives and benefits plans for Colorado school districts, Urman has developed extensive expertise in managing public educational entities and municipalities.
--Compiled by staff from company news and wire reports.
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July 1, 2007
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