Business Moves

November 15, 2009

AJ Gallagher, Triad

Arthur J. Gallagher & Co. acquired Triad Insurance Agency Inc., in Honolulu from The Bank of Hawaii. Terms of the transaction were not disclosed.

Originally founded in 1967, Triad Insurance Agency is a managing general agent and wholesale insurance broker providing excess and surplus property/casualty coverage, and other specialty insurance products and services to retail insurance agents and broker clients throughout Hawaii.

Phil Rellinger and the Triad team will continue to operate in Honolulu under the direction of Joel Cavaness, president of Risk Placement Services Inc., a subsidiary of Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Ill., has operations in 15 countries and does business in more than 100 countries worldwide through a network of correspondent brokers and consultants.

Synergy Professional

Synergy Professional Associates of Kinnelon, N.J., has established a new West Coast office and named Myles Alonzo manager of the office.

Alonzo will be based out of the San Francisco Bay Area and will be responsible for brokering professional liability risks as well as the development of new professional liability programs.

According to Ira Dawer, president of Synergy, the new office strengthens Synergy’s presence in the West. He noted that Alonzo has experience with several regional wholesale producers and specialty carriers in professional liability, including a strong background in lawyers professional liability, fiduciary liability, medical malpractice and employment practices liability.

Aon, Carpenter Moore

Global insurance broker Aon Corp. agreed to acquire Carpenter Moore Insurance Services Inc., a provider of executive liability risk management services and a wholly-owned subsidiary of The NASDAQ OMX Group Inc. Financial terms of the acquisition were not disclosed.

Under the terms of the agreement, Chicago-based Aon and New York-based NASDAQ said they will enter into a five-year exclusive marketing agreement in the area of liability insurance. The two organizations also will collaborate on the annual Carpenter Moore Benchmarking Survey.

Carpenter Moore was formed through the merger of Carpenter Moore and NASDAQ Insurance Agency in 2005. It serves technology, pharmaceuticals, healthcare, durable goods, transportation, energy and financial services industries.

A.M. Best deemed Aon the No. 1 broker based on brokerage revenues in 2007 and 2008.

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