New Age Sets up Brokerage Division

December 18, 2002

New Age Brokerage Inc., a Morristown, N.J.-based managing general agent, announced it has established a brokerage division to be led by Joe Palumbo.

Currently underwriting in excess of $75,000,000 of apartment package business, New Age products are distributed through a network of retail producers in California, Washington, Oregon, Arizona, Nevada, Colorado, Utah and New Mexico, as well as in Illinois, Ohio, Indiana, Minnesota and Wisconsin.

The brokerage division will identify and make available products that in terms of class of business, size, and product line, compliment the existing business written by New Age’s current producers.

Palumbo has over 25 years insurance industry experience, including 18 years with American International Group, (AIG), where he was Nationwide Senior Executive for Business Development for middle market business. He will manage the brokerage operation nationwide, out of his office in Carlisle, Pa.

Joining Palumbo in the management of the brokerage division will be Bridget Trezza and Laura Acquadro, both of whom will be directly involved with agency relationships, product development and market initiatives.

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