Giant insurance broker Marsh announced changes to its global organizational structure as well as several senior management appointments.
Marsh said its global insurance broking business will be consolidated into two geographic divisions: U.S./Canada and International. As part of this combination, Joseph M. McSweeny, most recently of Willis Group Holdings, has joined Marsh and will serve as president of the U.S./Canada Division.
Phil Moyles, who had been in charge of the insurance brokerage in the Americas, resigned, Marsh & McLennan spokeswoman Christine Walton confirmed.
Alexander Moczarksi, currently CEO of the Europe, Middle East and Africa (EMEA) region, has been named president of the International Division. He will relocate to New York from London.
The changes were announced by Daniel S. Glaser, CEO of Marsh, who joined the firm last month from American International Group.
“Simplifying the current structure will enable Marsh to reduce complexity and improve efficiencies within the organization,” said Glaser.
Other management moves announced include:
Alexander W. (Sandy) Vietor, who joined Marsh in December, will serve as president of Marsh’s Global Specialties.
Timothy J. Mahoney will lead the enhanced Global Risk Management (GRM) unit, into which the industry practices will now report.
Henry S. Allen continues to lead the Global Consumer Division as president.
These executives report directly to Glaser.
The shake-up follows a third quarter in which profits fell 40 percent. After that performance, Michael Cherkasky, the CEO of Marsh & McLennan, parent to the giant insurance brokerage and other businesses, agreed to step down. Just a few weeks before he himself was ousted, Cherkasky named Glaser to succeed Brian M. Storms, who had been forced out of the position as Marsh CEO in September.
Assurex Global, a worldwide network of independent insurance brokers representing $23 billion in premium volume, has named its newest and 52nd chairman of the board. Bill Jeatran, CEO of RJF Agencies, Minneapolis, Minn., succeeds Paul J. Hering, who is the managing principal and CEO of Barney & Barney LLC in San Diego.
Also named during the recent election is new board member, Gautam Boda, managing director of J.B. Boda & Co. Pvt. Ltd. in Mumbai, India; and two returning board members: Tom Cornish, president and CEO of Seitlin in Miami, Florida, and Johnny Pitts, co-chief manager of Lipscomb & Pitts Insurance LLC of Memphis, Tenn.
Jeatran’s RJF Agencies, a risk management and employee benefits agency, serves middle-market companies throughout the upper Midwest from its Minneapolis headquarters.
Valiant Insurance Group Inc. a New York subsidiary of Bermuda-based Ariel Holdings Ltd, announced that Ursula M. Kerrigan has joined its U.S. property and casualty insurance operations as general counsel and senior vice president. Prior to joining Valiant, Kerrigan was with Liberty Mutual’s Liberty International Underwriters division as director of compliance as well as chief counsel. Prior to Liberty International Underwriters, Kerrigan served as a staff attorney for insurance mergers with Skadden Arps Slate Meagher & Flom LLP, in New York, N.Y. She also served as associate general counsel a for Gulf Insurance Group.
Also, Stephanie R. Davenport has joined Valiant Insurance Group Inc. in New York as vice president of finance. Davenport will be responsible for financial control processes as well as management of high-profile and complex client issues, according to John DiBlanda, chief financial and operating officer of Valiant Insurance Group.
Davenport served as senior vice president of fiduciary accounting and claims at Gallagher Re (formerly John P. Woods Co., Inc.). Prior to Gallagher Re, Davenport was employed by CNA Global Resource Managers.
Connecticut-based wholesaler S.H. Smith & Co. Inc. announced that Ed McGuire has been appointed regional vice president. McGuire will be responsible for coordinating marketing and brokerage activities for the newly opened Philadelphia office.
McGuire was formerly the president/principal of SecureRisk Intermediaries Insurance Agency Inc., which was recently acquired by S.H. Smith & Co. Prior to that he was president of NIF Services of Mid-Atlantic Inc. and the president/principal of Associated Intermediaries.
Zurich named Kevin McCracken as executive vice president-casualty, and Joseph Tocco as executive vice president-property for the insurer’s Global Corporate in North America unit, effective Jan. 1, 2008. Both will now report to Paul Horgan, the chief underwriting officer.
McCracken will be responsible for casualty coverage, including all large casualty accounts, excess workers’ compensation and international casualty business written in North America. He joined Zurich earlier this year as senior vice president-casualty, Northeast Region, and leader of the company’s excess workers’ compensation business nationally. Prior to joining Zurich, McCracken was senior vice president of ACE USA’s Mid-Atlantic region.
Tocco will be responsible for property lines, including highly protected risks, global property, boiler and machinery, health care and national accounts property segments. Tocco joined Zurich from Munich Re in 1996 as vice president and national director of engineered lines, and was appointed senior vice president-Northeast Region property manager in 2001.
Atlanta-based NationsBuilders Insurance Services Inc. (NBIS), founder and exclusive program underwriter for ProBuilders Specialty Insurance Co. RRG, announced that Peter H. Foley resigned from his positions of president, CEO, and director to pursue other interests. The company said it is not making any structural changes to its business strategy or model, noting NBIS has experienced profitable growth in recent years.