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Leading Brokers Agent/Broker Top Best’s Review’s Global Insurance Brokers D espite the down- turn in the econ- omy in 2008, the multibillion dollar global insurance brokerage busi- ence: Figures are based on 2008 brokerage revenue from the placement of pri- mary insurance business only, using data provided were excluded. Previously, the ranking was not as tightly defined. This has led to some changes in the Top 20, as some com- ness held steady, for the by the companies. Reinsur- panies’ positions changed most part, in terms of bro- ance, wholesale business, and others dropped off kerage revenues. As Best’s managing general agent the Top 20. Beyond the Review presents its fourth and other business reve- economic crisis, 2008 annual ranking of the nues not directly related was a year of mergers major players in this mar- to the placement of pri- and acquisitions for bro- ketplace, there is a differ- mary insurance business kers. Aon merged with 58 BesT’s Review • July 2009 Top Global Brokers Ranked by 2008 Brokerage Revenue Brokerage Ranking Broker Revenues 2008 1. Aon Corp. $6.2 billion 2. Marsh Inc. $4.5 billion 3. Willis Group Holdings Ltd.* — 4. Arthur J. Gallagher & Co. $950 million Jardine Lloyd Thompson 5. Group plc $853 million 6. Brown & Brown Inc. $834.1 million 7. BB&T Insurance Services Inc. $730.2 million 8. Lockton Companies Inc. $726 million 9. Hub International Ltd. $691 million 10. USI Holdings Corp. $636 million 11. Alliant Insurance Services Inc. $277.5 million 12. The Leavitt Group $169 million CBIZ Benefits & Insurance 13. Services $135.6 million Benfield, willis acquired 14. Keenan & Associates $123 million H i l b R o g a l & H o bb s and Gallagher made 37 15. Bollinger Inc. $103.3 million acquisitions. These deals, 16. Mesirow Financial $90 million along with some contin- ued organic growth, also 17. The NIA Group LLC $69.1 million altered the brokerage land- 18. Barney & Barney LLC $63 million scape. looking ahead this year, many brokers plan to 19. Woodruff-Sawyer & Co. $61.4 million hone their strategies while 20. Integro Insurance Brokers $60.7 million competing in a challenging Note: Figures are based on 2008 brokerage revenue from the placement of primary insurance business. economic environment. * Willis declined to subtract reinsurance brokerage revenue. BesT’s Review • July 2009 59 1. Aon Corp. combination expanded Willis’ North American presence to more than 200 locations; more than doubled its North Ameri- Brokerage Revenues Total Revenues can employee benefits business; strengthened key practice 2008: $6.2 billion 2008: $7.6 billion areas such as personal lines, real estate, health care, environ- 2007: $6.0 billion 2007: $7.4 billion mental, construction, complex property and executive risk; Top Executive: Greg Case, President and strengthened Willis’ leadership as a middle-market broker and Chief Executive Officer reinforced its large account presence; further expanded its 200 East Randolph St., Chicago, IL 60601 specialty expertise and complemented its substantial presence Phone: 312-381-1000 in the London market. In addition, as part of its wholesale strat- egy, Willis formed Faber & Dumas, a new third-party wholesale www.aon.com broker that includes Glencairn, a multiline specialist broker, and Greg Trading symbol: AOC Case such specialty practices as Fine Art, Jewelry & Specie; Special Ownership: Public Contingency Risks, which deals with kidnap and ransom insur- Top Lines: Risk brokerage, reinsurance brokerage and ance, and Hughes-Gibb, a bloodstock broker. human capital consulting. Strategy for 2009 & 2010: Focus on top-line growth by Developments in 2008: Acquisition of Aon Benfield, divesti- optimizing new business development and pipeline manage- ture of underwriting businesses. ment, cross-selling capabilities, developing new products, and Strategy for 2009 & 2010: Focusing on providing value to expanding the Willis Client Advocate service model. Continue clients; building teams of unmatched talent; and achieving to execute against the “Shaping Our Future” strategy for prof- operational excellence. itable growth, the integration of HRH and the ongoing expense review to right-size Willis for the current environment. * Willis declined to subtract reinsurance brokerage revenue. Willis reported 2. Marsh & McLennan Cos. $606 million in reinsurance revenue for 2007. Brokerage Revenues Total Revenues 2008: $4.5 billion 2008: $11.6 billion 4. Arthur J. Gallagher & Co. Brokerage Revenues Total Revenues 2007: $4.4 billion 2007: $11.2 billion 2008: $950 million 2008: $1.64 billion Top Executive: Brian Duperreault, President and Chief Executive Officer 2007: $891 million 2007: $1.62 billion 1166 Avenue of the Americas, Top Executive: J. Patrick Gallagher Jr., Chair- New York, NY 10036 man, President and Chief Executive Officer Phone: 212-345-5000 Fax: 212-345-4808 The Gallagher Centre/Two Pierce Place, Itasca, Brian IL 60143-3141 www.mmc.com Duperreault Phone: 630-773-3800 Fax: 630-285-4000 Trading symbol: MMC J. Patrick Top Lines: Commercial insurance. Gallagher Jr. www.ajg.com Trading symbol: AJG Developments in 2008: Brian Duperreault appointed chief executive officer of Marsh & McLennan Cos. Marsh Inc. was Ownership: Public returned to profitability. A new management team at Guy Car- Top Lines: Retail commercial P/C; employee benefits; wholesale penter led by Peter Zaffino restructured business resulting in insurance brokerage; risk management; claims management. performance turnaround and maintained profitability. Ben Allen Developments in 2008: Gallagher announced 37 acquisitions in was promoted to CEO of Kroll and the company’s U.S. and U.K. 2008 with annualized revenues of some $165.6 million. Gallagher restructuring businesses were sold to their senior executives. completed the sale of its global reinsurance operations in the first Strategy for 2009 & 2010: To utilize the expertise of talent quarter. In the third quarter, Gallagher abandoned efforts to sell and global reach to protect and enhance the value of clients its small Irish wholesale brokerage operations and ceased those while continuing the transformation of businesses, ensuring operations; as a result, the revenues and expenses of these profitable growth. operations have been reclassified from continuing operations to discontinued operations for all periods presented. Additionally, Norman L. Rosenthal was appointed to the board of directors on 3. Willis Group Holdings Ltd. . Jan. 24 after Gary P Coughlan retired from the board effective at Brokerage Revenues Total Revenues Gallagher’s 2008 annual shareholders meeting. Major develop- 2008:$2.75 billion* 2008:$2.83 billion ments in 1Q 2009: Gallagher entered into a definitive agreement 2007: $2.46 billion 2007: $2.58 billion on Jan. 21 to acquire all of the policy renewal rights from Liberty Top Executive: Joseph J. Plumeri, Chairman Mutual’s middle-market commercial P/C brokers located in their and Chief Executive Officer Midwest and Southeast regions; the company expects to hire about 75 Liberty Mutual producers in these regions. Gallagher The Willis Building, 51 Lime St., London, also is acquiring substantially all of the policy renewal rights EC3M 7DQ United Kingdom and hiring the national producer group from Wausau Signature Phone: (44-20) 3124-6000 Agency, Liberty Mutual’s commercial P/C and employee benefits Joseph J. www.willis.com insurance agency, headquartered in Wausau, Wis.; it is expected Plumeri Trading symbol: WSH that the combined transaction will add approximately 120 new Top Lines: Commercial; reinsurance; construction; aero- insurance sales professionals to Gallagher’s retail commercial P/C space; energy; marine; financial and executive risks; employee brokerage operation. The definitive agreement includes an initial benefits; health care; niche; environmental. payment of approximately $44 million in cash and Gallagher’s common stock and additional payments in cash or Gallagher’s Developments in 2008: Acquired Hilb Rogal & Hobbs. The 60 BesT’s Review • July 2009 Leading Brokers Agent/Broker common stock (at Gallagher’s election) that are based on rev- 6. Brown & Brown Inc. enues generated in the two-year period beginning 12 months Brokerage Revenues Total Revenues after closing. The maximum potential amount of the additional payments is $120 million. The agreement was subject to custom- 2008: $834.1 million 2008: $977.5 million ary closing conditions and closed on Feb. 27. 2007: $784.2 million 2007: $959.7 million Strategy for 2009 & 2010: Arthur J. Gallagher & Co. is Top Executive: J. Hyatt Brown, Chairman focused on target revenue and EBITDA growth of 15%/year. 220 South Ridgewood Ave., Gallagher’s Retail Insurance Brokerage Operations (P/C Daytona Beach, FL 32114 and benefits) anticipates its greatest revenue growth over Phone: 386-252-9601 Fax: 386-239-5705 the next year will continue to come from its niche/practice www.bbinsurance.com groups and middle-market accounts; cross-selling other bro- Trading symbol: BRO kerage products to existing customers; developing and man- J. Hyatt Ownership: Public aging alternative market mechanisms such as captives, rent- Brown a-captives, deductible plans and self-insurance; and through Top Lines: Middle market property/casualty. mergers and acquisitions. Gallagher’s Wholesale Insurance Developments in 2008: Positive top line growth. Brokerage Operations anticipates growth by increasing the Strategy for 2009 & 2010: Sell more insurance. number of broker-clients, developing new managing general agency and underwriter programs and through mergers and 7. BB&T Insurance Services Inc. acquisitions. Gallagher’s Risk Management Segment (P/C Third-Party Administrator) expects its most significant growth Brokerage Revenues Total Revenues prospects will come from Fortune 1000 companies, larger 2008: $730.2 million 2008: $1.03 billion middle-market companies, captives, program business and 2007: $631.5 million 2007: $974.5 million the outsourcing of insurance company claims departments. Top Executive: H. Wade Reece, Chairman and Chief Executive Officer 5. Jardine Lloyd Thompson Group plc 3605 Glenwood Ave., Raleigh, NC 27612 Brokerage Revenues Total Revenues Phone: 919-716-9777 2008: $853 million 2008: $853 million www.bbt.com 2007: $753 million 2007: $753 million Trading symbol: BBT Top Executive: Dominic Burke, H. Wade Ownership: Corporation Reece Top Lines: Commercial property/casualty; Group Chief Executive Officer 6 Crutched Friars, London, employee benefits; personal lines. EC3N 2PH United Kingdom Developments in 2008: Client retention and organic growth; Dominic Phone: (44-20) 7528-4444 concentrated on finding more cost efficient operating models. Burke Fax: (44-20) 7528-4185 Strategy for 2009 & 2010: Continued emphasis on organic growth and client retention while concentrating on more cost www.jltgroup.com efficient operating models. Trading symbol: JLT Ownership: Jardine Lloyd Thompson Group plc—a publicly 8. Lockton Companies Inc. traded company on the London Stock Exchange Brokerage Revenues Total Revenues Top Lines: Risk management; insurance/reinsurance broker- 2008: $726 million 2008: $786.8 million age; employee benefits administration; consultancy. 2007: $686.4 million 2007: $742.2 million Developments in 2008: JLT achieved strong growth in 2008 across all of its businesses, driven by organic growth and Top Executive: David Lockton, Chairman enhanced by both favorable currency movements and the 444 West 47th St., Suite 900, impact of acquisitions. The work undertaken in 2006 and Kansas City, MO 64112-1906 2007 in changing the strategy, structure and culture of the Phone: 816-960-9000 group enabled good progress. The acquisition of Harman David www.lockton.com Wicks & Swayne into JLT’s reinsurance business in June Lockton Ownership: Private 2008 supported the continued progress of JLT Re and Lloyd & Partners had a stand-out performance during the year. Top Lines: Commercial property/casualty; executive risks; employee benefits; affinity; surety; retirement services Strategy for 2009 & 2010: JLT’s medium-term strategic goals are to continue to build a balanced and mutually reinforcing Developments in 2008: Maintained high client retention; business using bolt-on acquisitions to enhance the composition expanded client services in risk finance; launched Seurat of the group; to offer global representation, capacity and plac- Health Risk Management services; named Company of the ing power through an international network, with retail opera- Year in U.K.; rated highest for client service among AIRMIC tions that support specialty strengths; to continue working with Risk Managers; Best Place to Work in New York City, U.S. independent brokers to provide leading risk transfer ser- Denver, Kansas City, Chicago and St. Louis; expanded vices to U.S. corporates and to underpin these goals with high to Middle East with Dubai office; licensed in China and quality, efficient operational processes. The group’s investment opened Shanghai office. initiatives, the ICAP JLT joint venture, JLT Online and Thistle Strategy for 2009 & 2010: Deliver on “We Live Service!” strat- Underwriters are progressing well. The group is facing a chal- egy; support clients through economic turmoil and recovery; lenging economic environment across the world but remains continue to expand capabilities in executive risks; core com- well placed to make further progress in 2009. mercial property/casualty services; enhance retirement services. BesT’s Review • July 2009 61 9. Hub International Ltd. Ownership: Private (The Blackstone Group and Management) Brokerage Revenues Total Revenues Top Lines: Property/casualty, employee benefits. 2008: $691 million 2008: $757.5 million Developments in 2008: Completed two acquisitions. 2007: $589 million 2007: $651 million Strategy for 2009 & 2010: Remain independent; continue to grow organically; selective acquisition strategy; recruit top Top Executive: Martin P. Hughes, Chairman senior-level production talent. and Chief Executive Officer 55 East Jackson Blvd., Chicago, IL 60604 Phone: 877-402-6601 12. The Leavitt Group Brokerage Revenues Total Revenues www.hubinternational.com 2008: $169 million 2008: $187 million Ownership: Private Martin P. 2007: $168 million 2007: $186 million Hughes Top Lines: Commercial lines; personal lines; employee benefits. Top Executive: Dane Leavitt, Chief Executive Officer Developments in 2008: Hub International completed a total of 16 acquisitions in 2008 throughout the U.S. and Canada, 216 South 200 West, Cedar City, UT 84720 including Scheer’s (Illinois) and HKMB (Toronto). Phone: 435-586-6553 Fax: 435-586-1510 Strategy for 2009 & 2010: Sustain growth through contin- www.leavitt.com Dane ued development of sales culture, increased emphasis on Leavitt Ownership: C corporation enhancing the customer experience, organic growth, strate- Top Lines: Commercial package; workers’ gic acquisitions, improved productivity and margins. In early compensation; general liability. 2009, Hub acquired the renewal rights to Liberty Mutual’s Developments in 2008: Acquired Jenkins Insurance Group, middle-market commercial property/casualty business in Ari- a $25 million revenue multilines agency with offices in Concord zona, Arkansas, California, Colorado, Hawaii, Kansas, Louisi- and Sacramento, Calif.; acquired Service Insurance Agency of ana, Nebraska, Oklahoma, Utah and Texas. Vernal, Utah, a significant provider of insurance to the petroleum services industry in the Rocky Mountain West; formed Leavitt 10. USI Holdings Corp. Benefits Services, a centralized, agency-owned facility that pro- Brokerage Revenues Total Revenues vides value-added services to benefit clients and brokers. 2008: $636 million 2008: $636 million Strategy for 2009 & 2010: Strengthen sales culture, pro- 2007: $623 million 2007: $623 million ducer recruitment and development, consolidate wholesale relationships, continued acquisition activity. Top Executive: Michael J. Sicard, Chairman, President and Chief Executive Officer 555 Pleasantville Road, Suite 160 South, Bri- 13. CBIZ Benefits & Insurance Services arcliff Manor, NY 10510 Brokerage Revenues Total Revenues Phone: 914-749-8500 Fax: 914-749-8550 2008: $135.6 million 2008: $178.2 million Michael J. www.usi.biz 2007: $141.5 million 2007: $175.1 million Sicard Ownership: Private, owned by Goldman Top Executive: Robert A. O’Byrne, President Sachs Capital Partners and Management 11440 Tomahawk Creek Parkway Top Lines: Property/casualty; group employee benefits; spe- Leawood, KS 66211 cialized benefits services. Phone: 913-234-1788 Fax: 913-458-5279 Developments in 2008: USI realized growth in revenues, Ownership: Public EBITDA (earnings before interest, taxes, depreciation and Top Lines: Benefits, consulting and admin- amortization) and EBITDA margins. In addition, USI acquired istration; retirement planning services; prop- $44.5 million in annualized revenues. Robert A. erty/casualty; payroll services; human capital Strategy for 2009 & 2010: Continue to grow organically O’Byrne services; individual wealth management. and through targeted acquisitions while improving mar- Developments in 2008: In keeping with strategy of building out gins and operating efficiencies. In first quarter of 2009, USI CBIZ service capabilities within key markets, CBIZ Inc. acquired announced the acquisition of the northeastern middle-market five companies in 2008: Computer Payroll Co, Palm Desert, P/C direct business from Liberty Mutual Insurance Group, Calif., (a payroll processing firm); NAIS, Frederick, Md., (large pro- including the hiring of 43 Liberty Mutual sales professionals. vider of innkeepers insurance); EFL Associates, Overland Park, Kan., (leading national executive search firm); Mahoney Cohen & 11. Alliant Insurance Services Inc. Co, New York (full service accounting and management consult- Brokerage Revenues Total Revenues ing firm); Tofias PC, Cambridge, Mass., (accounting firm). 2008: $277.5 million 2008: $335.8 million Strategy for 2009 & 2010: Commitment to helping to grow cli- 2007: $239 million 2007: $296 million ents’ businesses as well as investing in company’s people con- tinue to be central to primary strategy. Cross-serving as well as Top Executive: Thomas W. Corbett, acquisitions that build out CBIZ service capabilities within key Chairman and Chief Executive Officer markets will help to bring additional services to clients. Inter- 1301 Dove St., Suite 200, Newport Beach, nally, continue to support and grow CBIZ Women’s Advantage, CA 92660 Great People Great Place Initiative, and provide comprehensive Thomas W. Phone: 949-756-0271 business development training for associates through CBIZ Corbett Training Academy. www.alliantinsurance.com 62 BesT’s Review • July 2009 Leading Brokers Agent/Broker 14. Keenan & Associates 17. The NIA Group LLC Brokerage Revenues Total Revenues Brokerage Revenues Total Revenues 2008: $123 million 2008: $123 million 2008: $69.1 million 2008: $69.7 million 2007: $132.2 million 2007: $132.2 million 2007: $70.6 million 2007: $73.4 million Top Executive: Sean K. Smith, President and Top Executive: Paul Gross, Chief Executive Officer Chief Executive Officer 2355 Crenshaw Blvd, Suite 200, Torrance, CA 90501 66 Route 17, Paramus, NJ 07652 Phone: 310-212-3344 Fax: 310-782-2084 Phone: 201-845-6600 Sean K. www.keenan.com Paul www.niagroup.com Smith Gross Ownership: Privately held ESOP Ownership: Limited liability corporation Top Lines: Workers’ compensation; property and liability; Top Lines: Commercial lines; personal lines; employee benefits. employee benefits. Developments in 2008: Provided a substantial amount of Developments in 2008: Expanded technology portal and staff training, made a major financial investment in updated administration tools to property/casualty, which is a major, computer systems and reconfigured several key departments. long-term undertaking and will be a large part of the compa- Strategy for 2009 & 2010: The focus is on organic growth and ny’s focus for the next year and beyond. retention. A major initiative is to hire successful, experienced pro- Strategy for 2009 & 2010: The company said it does not ducers and expand sales management capabilities. The firm seeks announce future strategy publicly for competitive reasons. to make strategic acquisitions that complement existing offices. 15. Bollinger Inc. 18. Barney & Barney LLC Brokerage Revenues Total Revenues Brokerage Revenues Total Revenues 2008: $103.3 million 2008: $103.3 million 2008: $63 million 2008: $63 million 2007: $103.6 million 2007: $105 million 2007: $52 million 2007: $52 million Top Executive: John A. Windolf, Top Executive: Paul J. Hering, Chief Chairman and Chief Executive Officer Executive Officer and Managing Principal 101 JFK Parkway, Short Hills, NJ 07078 9171 Towne Centre Drive, Suite 500, Phone: 800-526-1379 Fax: 973-921-2876 San Diego, CA 92122 John A. www.bollingerinsurance.com Phone: 800-321-4696 Windolf Ownership: Private Paul J. www.barneyandbarney.com Hering Top Lines: Benefits, commercial lines, personal lines and Ownership: Private program business. Top Lines: Property/casualty; employee benefits. Developments in 2008: Completed four acquisitions and Developments in 2008: Merged with Saylor & Hill Co. enhanced client services. Strategy for 2009 & 2010: As the company turns 100 this Strategy for 2009 & 2010: Equal growth from mergers and year, will continue to focus on aggressive growth, while not acquisitions and organic improvements. losing sight of core values and mission to serve clients, col- leagues and community. 16. Mesirow Financial Brokerage Revenues Total Revenues 19. Woodruff-Sawyer & Co. 2008: $90 million 2008: $91 million Brokerage Revenues Total Revenues 2007: $89 million 2007: $81.4 million 2008: $61.4 million 2008: $61.4 million Top Executive: Richard S. Price, President 2007: $61.2 million 2007: $61.2 million and Chief Operating Officer Top Executive: Charles Rosson, 321 North Clark St., Chicago, IL 60654 Chief Executive Officer Phone: 312-595-6200 Fax: 312-595-6993 220 Bush St., 7th Floor, www.mesirowfinancial.com San Francisco, CA 94104 Richard S. Ownership: Private Phone: 415-391-2141 Price Top Lines: Employee benefits; life and disabil- www.wsandco.com ity; personal lines; property/casualty; structured settlements. Charles Ownership: Private, 27% employee stock Rosson Developments in 2008: Launched a new corporate identity ownership plan to mark the next chapter in the firm’s evolution and was also Top Lines: Property/casualty, employee benefits and man- ranked as one of Chicago’s best places to work by Crain’s Chi- agement liability. cago Business. Added a number of new producers and busi- Developments in 2008: Established CleanTech Practice to ness development alliances including additional niche markets. meet the risk management needs of this emerging market. Strategy for 2009 & 2010: Plan for growth will continue to Named the #1 D&O Broker in the nation by the 2007 Towers involve strategic acquisitions of agencies where synergies Perrin Directors & Officers Liability survey. In addition to being exist as well as the recruitment of talented professionals. named #1 D&O broker overall, Woodruff-Sawyer is the only bro- Mesirow Financial will be moving to a new 45-story head- ker to be listed in all client asset sizes delineated in the survey. quarters developed by Mesirow Financial Real Estate Inc. In addition, expanded employee benefits services by opening BesT’s Review • July 2009 63 new regional office, adding enhanced compliance capabilities Bolton & Company and developing new communications services. Woodruff-Saw- Brokerage Revenues Total Revenues yer was a winner of the 2008 Alfred P. Sloan Award for Business Excellence in Workplace Flexibility, distinguishing the employer 2008: $21.5 million 2008: $21.5 million as a leading practitioner of workplace flexibility. Launched new 2007: $20 million 2007: $21.7 million podcast series addressing insurance regulatory topics. Top Executive: Steven Brockmeyer, President and Chief Executive Officer; 20. Integro Insurance Brokers Ronald Wanglin, Chairman, Brokerage Revenues Total Revenues 245 South Los Robles Ave., Pasadena , CA 91101 2008: $60.7 million 2008: $63 million Phone: 626-799-7000 2007: $57.2 million 2007: $58 million Steven www.boltonco.com Brockmeyer Ownership: S corporation Top Executive: Peter Garvey, Chief Executive Officer Top Lines: Commercial property/casualty; 1 State Street Plaza, 9th Floor, employee benefits; personal lines. New York, NY 10004 Developments in 2008: Focused on contin- Phone: 877-688-8701 ued organic growth and development of new Peter brokers. Strengthened offerings to employee www.integrogroup.com Garvey benefits clients. Became exclusive broker for Ownership: Private Ronald Human Resources Association with more than Wanglin Top Lines: Complex risk including property/casualty; management 3,000 members. risk; health care; international including wholesale and reinsurance. Strategy for 2009 & 2010: Pursuit and training of new bro- Developments in 2008: Realized industry-leading 19% kers. Acquisition of other agencies. Further development of organic revenue growth over 2007 and 98% client retention target markets and programs. rate during 2008. Identified by Greenwich Quality Index as the industry leader in client satisfaction, quality of service, knowledge and technical execution. Expansion of facultative Insurica (North American Group) reinsurance and U.K. wholesale units. Brokerage Revenues Total Revenues Strategy for 2009 & 2010: Continue industry leading organic 2008: $43.1 million 2008: $43.1 million growth. Expand core offerings, proven capabilities and top 2007: $39.01 million 2007: $39.01 million lines. Build on reputation for creativity, thought leadership Top Executive: Michael F. Ross, and quality service. President and Chief Executive Officer 5100 North Classen Blvd., Suite 300, The following brokers, although not ranked, shared their Michael F. Oklahoma City, OK 73118 Ross results, development and strategies with Best’s Review. Phone: 405-523-2100 www.insurica.com AH&T Insurance Ownership: Corporation Brokerage Revenues Total Revenues Top Lines: Workers’ compensation; property/casualty. 2008: $18.5 million 2008: $18.7 million Developments in 2008: Phoenix acquisition. 2007: $17.5 million 2007: $18.0 million Strategy for 2009 & 2010: Corporatewide branding initiative: Top Executive: Alexander Green, President INSURICA Insurance Management Network. 20 South King St., Leesburg, VA Phone: 703-777-2341 Meadowbrook Insurance Group Inc. www.ahtins.com Brokerage Revenues Total Revenues Alexander Ownership: Private 2008: $11.1 million 2008: $105.6 million Green 2007: $11.3 million 2007: $96.9 million Top Lines: Property/casualty. Top Executive: Robert S. Cubbin, Assurance Agency Ltd. Chief Executive Officer and President Brokerage Revenues Total Revenues 26255 American Drive, Southfield, MI 48034-6112 2008: $39.7 million 2008: $39.7 million Phone: 800-482-2726 2007: $35.6 million 2007: $35.6 million www.meadowbrook.com Top Executive: Anthony Chimino, Chief Executive Officer Trading symbol: MIG Robert S. Ownership: Public 1750 East Golf Road, Cubbin Schaumburg, IL 60173 Top Lines: Commercial business (property/ Phone: 847-797-5700 casualty); life/health, benefits; personal lines. www.assuranceagency.com Developments in 2008: Launched a wholesale operation called MarketPlus. The entity represents Meadowbrook’s Ownership: Private Anthony newly acquired subsidiary, Century Insurance Group, a lead- Top Lines: Property/casualty; employee ben- ing excess and surplus lines products facility, as well as Chimino efits; bonds. other strategic markets. 64 BesT’s Review • July 2009 Leading Brokers Agent/Broker Strategy for 2009 & 2010: Growth of wholesale agency Strategy for 2009 & 2010: Five-year strategic plan to grow MarketPlus; expanded growth in the health and benefits from $125 million premium to $300 million premium by 2015. segment. The company also continues to review select Emphasizing internal growth and producer recruiting. agency and program administrator acquisition candidates, while recruiting experienced individual account executives and producers. Wells Fargo Insurance Services Brokerage Revenues 2008: $1.7 billion* R&R Insurance Services Inc. 2007: $1.5 billion Brokerage Revenues Total Revenues Top Executive: Neal Aton, President and 2008: $21.2 million 2008: $21.2 million Chief Executive Officer of Wells Fargo 2007: $21.3 million 2007: $21.3 million Insurance Services, the commercial lines Top Executive: Kenneth P. Riesch, President brokerage and Wells Fargo Insurance Inc., the 1581 East Racine Ave., Waukesha, WI 53186 personal lines brokerage. Phone: 262-574-7000 150 North Michigan Ave., Suite 3900, www.myknowledgebroker.com Chicago, IL 60601 Ownership: S corporation Phone: 312-423-2500 Neal https://wfis.wellsfargo.com Top Lines: Commercial property/casualty; Aton Kenneth P. life and health; personal lines. Trading symbol: WFC Riesch Developments in 2008: Further investment in Ownership: Public e-communications and Web site. Top Lines: Commercial lines; personal lines; employee ben- efits; life wholesale. Developments in 2008: Wells Fargo acquired Wachovia, Schiff, Kreidler-Shell Inc. including Wachovia Insurance Services Inc. Prior to the Brokerage Revenues Total Revenues acquisition, Wells Fargo Insurance Services ranked as the 2008: $22.7 million 2008: $22.7 million fourth-largest global insurance broker based on total broker- 2007: $22.2 million 2007: $22.9 million age revenue and Wachovia’s insurance brokerage operation Top Executive: Thomas R. Dietz, Chairman ranked as 12th largest. At the Market: and Chief Executive Officer At Fargo also became the exclusive manager ofthe HLA Wells the Market: At the Market: Health/HMO 1 West Fourth St., Suite 1300, Global Network, now known as the Wells FargoU.S. Life Global Reinsurance Global Bro- Stock performance: From May 8, 2009 to June 5, 2009 Stock performance: From May 8, 2009 to 10,000 insurance and risk ker Network. The Network hasJune 5, 2009 Stock performance: From May 8, 20 45202 Cincinnati, OH2004 = 1,000 Dec. 31, Dec. 31, 2004 1,000 Dec. 31, 2004 management=professionals serving customers from 330 = 1,000 Phone:A.M. Best’s U.S. Health & HMO Insurance Index 513-977-3100 A.M. Best’s Global Reinsurance Index A.M. Best’s U.S. offices across 70 countries, and provides insurance broker- LIfe Index (AMBUH) Fax: 513-977-3193 (AMBGR) (AMBUL) age services in 115 countries. BR Thomas R. 795 825 715 www.sksins.com Dietz * Wells Fargo declined to provide Best’s Review with year-end 2008 brokerage Ownership: Privately held S corporation 766 812 682 revenue. However, the company reported $1.7 billion in insurance revenue through Sept. 30, 2008, the end of the third quarter. Top Lines: Commercial property/casualty; life and employee 737 799 649 benefits; personal property/casualty. 708 786 616 Developments in 2008: Expanded offerings in the area of financial services. 679 773 583 Strategy for 2009 & 2010: Continue to refine a structure of 650 760 Watch a22 video about 5 550 sales support and accountability. 15 8 22 29 5 8 15 29 8 15 22 May June May this article on June May bestreview.com/videos Thoits Insurance Service Inc. Brokerage Revenues Revenues At the Market: 2008: $11.9 million 2008: $11.9 million At the Market: U.S. Property/Casualty million 2007: $11.1 million 2007: $12.5 U.S. Brokers Stock performance: From May 8, 2009 to June 5, 2009 Stock performance: From May 8, 2009 to June 5, 2009 Top Executive: Paul Saich, Dec. 31, 2004 = 1,000 Dec. 31, 2004 = 1,000 Chief Executive Officer A.M. Best’s U.S. Property/Casualty Index A.M. Best’s U.S. Brokers Index Santa Clara Street, 12th Floor, 160 W. (AMBUPC) (AMBUB) San Jose, CA 95113-1171 940 865 Paul Phone: 408-792-5400 927 849 Saich www.thoitsinsurance.com 914 833 Ownership: ESOP 901 817 Top Lines: Workers’ compensation; commercial; group benefits. Developments in 2008: 888 Transition of leadership, including 801 new Chief Executive Officer Paul Saich, previously executive 875 785 vice president. Recruiting of8 young15 producers. Organization 22 29 5 8 15 22 29 5 into four revenue teams: risk management, select commer- May June May June cial, personal insurance, employee benefits. BesT’s Review • July 2009 65
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