HUB to Pick up Totten
A subsidiary of Chicago-based brokerage HUB International Ltd. expected to close the acquisition of Totten Insurance Group Inc. in the third quarter of 2007. Totten, a Canadian specialty insurance wholesaler, will operate as a separate entity of the same name after merging with the current wholesale operations of HUB International Ontario Ltd., the Wholesale Insurance Group and Cross Border Underwriting Services Inc.
Vitale Switches Camps
Joseph Vitale, named a 2007 Reinsurance Power BrokerTM in the facultative category by Risk & Insurance®, has left Benfield for Guy Carpenter & Co., a part of Marsh & McLennan Cos. Vitale is senior vice president of GCFac, Guy Carpenter's dedicated facultative reinsurance unit. Most recently the U.S. team leader for facultative solutions at Benfield, Vitale spent eight years at Guy Carpenter between 1996 and 2004.
HRH to Acquire Bank Branch
Hilb Rogal & Hobbs Co. plans to finalize in the fourth quarter the purchase of an insurance intermediary owned by Bank of America. Cranford, N.J.-based Banc of America Corporate Insurance Agency specializes in employee benefits, as well as public-sector organizations and private-equity businesses.
Lockton Brokers Benevolence
Executive Vice President of Lockton Insurance Brokers Mark Carlin has joined the board of directors at a San Fernando, Calif.-based nonprofit healthcare and social services organization. Carlin, a top producer for the brokerage in the healthcare industry, is expected by the Partners in Care Foundation to greatly contribute in creating, implementing and testing its healthcare innovations.
Clapping Continues for Lockton
Lockton placed No. 2,186 on Inc. magazine's list of the 5,000 fastest-growing private companies in the country. The list spotlighted a sliver of the 7 million-plus privately held U.S. companies and measured revenue growth from 2003 to 2006. Lockton came in at 164 percent. Out of this list, Lockton ranked No. 25 in gross dollars of growth, and No. 41 in 2006 revenue.
--Compiled by staff from news and wire reports.
November 1, 2007
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