Victor O. Schinnerer Acquires HSBC Insurance’s Energy Brokerage

April 1, 2010

Victor O. Schinnerer & Company, Inc. has acquired HSBC Insurance Services (USA) Inc., the energy insurance brokerage of HSBC Insurance. Effective April 1, 2010, the acquisition adds energy companies, utility companies and specific contractor classes to Schinnerer’s property and casualty insurance offerings. The acquisition also expands the New York City presence of Schinnerer and its growing list of satellite locations.

Schinnerer is a subsidiary of Marsh & McLennan Companies, Inc., and its acquisition of HSBC Insurance Services (USA) is part of a global agreement announced in December 2009 and also closed today in which HSBC Insurance Brokers Limited and related businesses and companies within the HSBC Group were acquired. The name for the new program is Energy P&C. Schinnerer will serve as managing general underwriter of the program which is written through an A XV rated carrier.

Targeted industry segments for the energy P&C program include oil & gas companies, pipelines operations, utility companies, service contractors, water & sewer contractors and HVAC contractors. Available coverage options include workers’ compensation, auto, general liability, umbrella and property and inland marine. Package policies are also available.

The energy P&C program is admitted in all 50 states with superior claims handling and loss control services.

Source: Victor O. Schinnerer & Co, Inc.

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