New Jersey-based Crum & Forster has made a management switch in its specialty lines in connection with the recent acquisitions of First Mercury Financial Corp., Valiant Insurance and American Management Corp.
Richard H. Smith, chairman and CEO of First Mercury, has assumed responsibility for Crum & Forster’s combined E&S casualty capabilities — which now operates as CoverXSpecialty. He will also serve as vice chairman of Crum & Forster.
Executive Vice President Ted Camp — who is also chief underwriting officer of First Mercury — will manage operations of this group, which has more than $320 million in gross premiums written.
Steve Strange Sr. will continue his role as president of the managing general agency American Management Corp., under the leadership of Marc Adee, president of Crum & Forster’s Fairmont Specialty Group. The combined operations will include over $150 million of gross premiums written in the energy and other specialty casualty businesses.
Gary Dubois, formerly president of Valiant Insurance, will oversee a combined management and professional liability unit for Crum & Forster, with approximately $60 million in gross premiums written. Additionally, Dubois will serve as president of Seneca Insurance group.
“The acquisition of First Mercury was an important strategic step for Crum & Forster in enhancing our capabilities in the Specialty Lines marketplace,” said Doug Libby, Crum & Forster’s chairman and CEO. “Our combined specialty business now totals over $1 billion in gross premiums written.”
With these changes, Crum & Forster’s specialty lines operations will include:
- CoverXSpecialty: Primary and Excess E&S Casualty including profit centers focused on: security guards, crisis management, alarm installers, contractors, oil and gas, entertainment, life sciences, hospitality and binding authority business;
- Fairmont Specialty, including its existing energy, propane gas and agricultural operations and the AMC fuel oil jobber and service station businesses;
- Fairmont Specialty’s Accident and Health and travel businesses, managed by Gary McGeddy;
- Fairmont Specialty’s auto and equipment dealership unit, managed by Fred Browning, and its Transportation program, managed by Tom Donnelly;
- Seneca Insurance Company, which is focused on small to middle market package business and E&S Property and Inland Marine;
- Management and Professional Liability;
- Ocean Marine and Energy, under the management of Nigel Fitzgerald;
- Environmental Casualty, under the management of Mark Brown; and
- Bail bonds
Additionally, Crum & Forster’s standard lines has commenced writing workers’ compensation, umbrella and other admitted coverages for industry segments in support of the specialty lines group, including security guards, propane gas distributors and fuel oil dealers.
Topics Excess Surplus
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