Stone Point Capital LLC reported the capitalization of Mercator Risk Services Inc. (www.mercatorrisk.com) a newly formed, independent wholesale insurance broker. Trident III L.P., a private equity fund managed by Stone Point Capital, will be the lead investor in Mercator, along with the founding management team.
Mercator will provide wholesale and specialty insurance solutions for mid- to large-sized retail insurance brokers though the implementation of a new business model for wholesale insurance placements. The model is built around broker specialization, customer service and transparency and will provide customers superior solutions by rewarding teamwork and collaboration.
The management team of Mercator will be led by John Addeo as chairman and Christopher Treanor as president and chief executive officer. Addeo recently retired as CEO of Alliant Resources. Treanor, who left Marsh Inc. in December, was formerly CEO of Marsh’s worldwide placement operations.
Mercator currently has more than 25 employees located in New York, Atlanta and Florida and is in the process of opening offices in Chicago and San Francisco. Mercator is scheduled to open additional offices in the U.S. and London during 2006.
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