CAA Reports 46 Percent Growth; Elects Management Committee

June 3, 2003

Combined Agents of America LLC (CAA), a closed managing general agency based in Austin, Texas, announced it experienced a more than 46 percent revenue growth in 2002 over the previous year. The growth includes market share increases, premium rate adjustments, and the organizations’ loss ratio contingencies.

“Attaining such aggressive growth is a combination of factors,” said Jim Whorton, CAA chairman and president of Whorton Insurance Services, Austin. “It is due partly to the higher premiums realized in this hard market but much credit also goes to the ability of CAA member agencies to write new business in this market through the vast number of insurers available to our organization.”

At its annual meeting, CAA elected a new management committee. Each committee member serves a two-year term and is selected by CAA’s board of members based on their leadership abilities and contributions to the organization. The new management committee includes:

· Chairman of the Board – Jim Whorton, CIC, president of Whorton Insurance Services, and Round Rock Insurance, Round Rock. Whorton previously served as president of the Independent Insurance Agents of Austin, as the chairman of property committee and regional vice president of IMPACT for IIAT, and previously chaired CNA’s PACER panel. He was one of the original founders of CAA.
· President – Bill Russell, founder and president of Bill Russell Insurance Agency Inc., Austin. In addition, Russell serves as the past chairman of CNA’s Austin Branch PACER 2002, an agency advisory committee. He previously served on agency advisory councils with Commercial Union, General Accident (CGU), and Hanover and was a member of CNA’s Global Specialty PACER. Russell was also one of the original founders of CAA.
· Executive vice president – Jerry Boles, president of Grona Boles & Martin Insurance & Financial Services, San Antonio.
· Second vice president – Johnny Shropshire, president of The Shropshire Agency Inc., Lubbock.
· Secretary – Brent Borgstedte, president of GBS Insurance Agency Inc., Bellaire.
· Treasurer – Bill Bridges, CIC, executive vice president of Duncan, Fraser and Bridges, Pampa.
· Past chairman – Tom McCorkle, owner of McCorkle Commercial Insurance Agency, San Antonio.

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