Acordia, Inc. and Heath Lambert Group of London Establish a Global Insurance Brokerage Network.

Business Editors, Financial Writers

CHICAGO--(BUSINESS WIRE)--March 29, 2001

Acordia, Inc. and Heath Lambert Group have created a joint venture to establish a high quality retail insurance and risk management network to service mutual retail client needs around the world.

It will assure the delivery of consistent quality retail services to international client local operations.

"The network, called HLA Global, will satisfy the increasing international risk management needs of our colleagues and clients with existing or expanding operations in global markets," said Frank C. Witthun, president and chief executive officer of Acordia. "We believe this retail partnership will give U.S. based multinational companies a responsive alternative to their risk management needs," added Mr. Witthun.

According to London-based Heath Lambert Group chief executive David Margrett, this network will be a natural expansion of the Lambert Network of international brokerage operations that has been primarily assembled in Europe, Latin America, South America, Africa, the Middle East, Asia Pacific and Canada.

"We increasingly have required a quality retail partner in the United States and Acordia fits that need given its position in the market, its emphasis on local service and the current working relationship between our respective colleagues," Margrett said.

"There comes a time when you need to select a long-term partner to help consistently fill your clients' local insurance and risk management needs on a global basis," said Charles L. Ruoff, senior vice president, chief marketing officer of Acordia. "We are particularly pleased to have reached an agreement with the Heath Lambert organization who has been successfully operating a network and shares the same objectives for client service quality as Acordia."

With the addition of Acordia, the HLA Global network brand will replace the previous Lambert Network according to Mr. Ruoff, and the executives from Acordia and Heath Lambert have been concentrating efforts on the integration of global operational aspects of the network among their retail offices. More detailed information on the network will be released shortly.

Acordia, Inc., headquartered in Chicago, Illinois, is "America's Local Insurance Broker," with more than 100 offices in North America and 2000 revenues of $410 million. Its 3,800 insurance professionals place more than $3.5 billion of risk premiums with expertise in property, casualty, life, and benefits.

Heath Lambert Group, based in London, had 2000 revenues of nearly $400 million with 4,000 employees in 88 offices in 43 countries worldwide.

HLA Global, which will comprise of Acordia, Heath Lambert and select affiliated companies, will aggregate nearly one billion in revenue and have a physical presence from over 200 offices in 55 countries worldwide.