INSURANCE BROKERS.Ranked by 2000 L.A. County revenues THE PACESETTER AON CORP. AON Corp. is getting even bigger. For the second year in a row, the Fortune 500 firm tops the Business Journal list as the county's largest insurance brokerage BROKERAGE, contracts. The trade or occupation of a broker; the commissions paid to a broker for his services. as measured by locally generated revenues, which last year reached nearly $141 million. With $7.4 billion in global revenue last year, Aon is the second-largest insurance brokerage in the world and has reorganized re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. into 11 separate business units intended to better build its expertise in industry sectors. The Chicago-based company has decided to establish headquarters in L.A. for four of those units: construction, entertainment, health care and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . It is also turning L.A. into its Western regional hub. "We see a very bright future in industry specialization A career option pursued by some attorneys that entails the acquisition of detailed knowledge of, and proficiency in, a particular area of law. As the law in the United States becomes increasingly complex and covers a greater number of subjects, more and more attorneys are , and it's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have really worked for us," said Peter Arkley Coordinates: Arkley is a village in the London Borough of Barnet. It is located 10.6 miles (17 km) north north-west of Charing Cross, and about 440 feet (134 m) above sea level. , managing director in L.A. The company already has hired 50 new people locally and expects to add a total of 400 to 500 to handle the work generated by having over a third of its operations headquartered here. It also is expanding from five to 11 floors of the office building it occupies at 707 Wilshire Not to be confused with Wiltshire. Wilshire may refer to:
The company, which has grown rapidly over the past decade into a global powerhouse A fourth-generation language from Cognos that was introduced in the late 1970s for midrange computers. It supports both character-oriented, terminal-based applications as well as Windows clients. Applications developed under PowerHouse can be imported into Cognos' Axiant client/server environment. through a series of acquisitions, also saw its bottom line improve last year as the soft insurance market finally began to harden hard·en v. hard·ened, hard·en·ing, hard·ens v.tr. 1. To make hard or harder. 2. To enable to withstand physical or mental hardship. 3. . Revenues increased 35 percent from $352 million in 1999 to $474 million 2000. EXECUTIVE SUMMARY WITH the top five L.A. insurance brokerages holding onto their rankings this year, and only a few of the remaining 10 shuffling places, it may look like not much is going on in the business of risk. Appearance, as always, can be deceptive de·cep·tive adj. Deceptive or tending to deceive. de·cep  tive·ness n. .After a prolonged pro·long tr.v. pro·longed, pro·long·ing, pro·longs 1. To lengthen in duration; protract. 2. To lengthen in extent. slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. , the insurance business appears to be coming back to life as companies raise rates and make them stick, the definition of a "hardened" market. The hardening hardening, in metallurgy, treatment of metals to increase their resistance to penetration. A metal is harder when it has small grains, which result when the metal is cooled rapidly. can be seen in the bottom line of our list of largest insurance brokerages, which as a group saw revenues rise to $499.9 million in 2000, up 17 percent from the prior year when they totaled $424.7 million. The premium rate hikes are across all lines of insurance, and the Commercial Insurance Market Index projects that rates will continue to climb through the last quarter of the year. The most dramatic changes in 2000 were rate increases topping 10 percent for large businesses.
Rank Brokerage (Ranking in 2000) L.A. County/U.S. Revenues
* name * 2000 (millions)
* address * 1999 (millions)
* percent gain (loss)
1 Aon Corp. (1) $140.8/$2,300
707 Wilshire Blvd., Suite 6000 $131/$2,200
Los Angeles 90017 7.5%/4.5%
2 Marsh USA Risk & Insurance Services 118 1 /4,800
(2) 112 1 /4,500
777S. Figueroa St. 5.4/6.7
Los Angeles 90017
3 Arthur J Gallagher & Co. Ins. 45.4/677.5
Brokers of Calif. (3) 29.3/577.6
21650 Oxnard St., Fourth Floor 54.9/17.3
Woodland Hills 91367
4 Total Financial & Insurance 27.8/43.5
Services Inc. (4) 25.4/39.4
11835 W. Olympic Blvd., Suite 600 9.4/10.4
Los Angeles 90064
5 Keenan & Associates (5) 26.9/64.3
2355 Crenshaw Blvd., Suite 200 23.7/57.8
Torrance 90501 13.5/11.2
6 Lockton Insurance Brokers Inc. (8) 22.6/189
725 S. Figueroa St., 35th Floor 16.5/151.9
Los Angeles 90017 37.0/24.4
7 USI of Southern California Ins. 22/361
Services Inc. (6) 20.2/321.6
14140 Ventura Blvd., Third Floor. 8.9/12.3
Sherman Oaks 91423
8 Peterson International Underwriters 21.5/same
(7) 17.8/same
23929 Valenica Blvd., Suite 215 20.8/same
Valencia 91355
9 Bolton/RGV Insurance Brokers (12) 13.6/14.6
245 S. Los Robles Ave., Suite 105 11.2/13.9
Pasadena 91102 21.4/5.0
10 Sander A. Kessler & Associates 12.9/same
Inc. (10) 12.1/same
2850 Ocean Park Blvd., Suite 200 6.6/same
Santa Monica 90405
11 Willis Insurance Services of Los 12.5/500
Angeles Inc. (9) 12.5/450
801 N. Brand Blvd., Suite 400 0/11.1
Glendale 91203
12 Dodge, Warren & Peters Insurance 11.5/18.5
Svcs. Inc. (11) 10.6/17.2
3625 Del Amo Blvd., Suite 300 8.5/7.6
Torrance 90503
13 ABD Insurance & Financial 9.6/85
Services 2 (13) 8.6/8.6
21250 Hawthorne Blvd., Suite 600 11.6/888.4
Torrance 90503
14 Golden Pacific Insurance Services 7.7/same
Inc. (14) 7.5/same
181 W. Huntington Drive, Suite 200 2.7/same
Monrovia 91016
15 PRB Insurance & Financial Services 7.1/8.6
Inc. (15) 6.1/7.5
1925 Century Park East, Fourth 16.4/14.7
Floor
Los Angeles 90067
Rank L.A. County Insurers
* employees (partial list)
* yr. established
1 850 all carriers
1976
2 600 all carriers
1923
3 220 all carriers
1981
4 39 Travelers, AIG, Mass
1974 Mutual, Reliastar,
Jefferson Pilot, Lincoln
Life, Lincoln Benefit
5 249 Blue Cross, HealthNet,
1971 Ace USA, Crum & Forster
6 127 all carriers
1995
7 185 all carriers
1960
8 13 Lloyds of London
1979
9 110 all carriers
1931
10 78 all major carriers
1956
11 57 AIG, Aetna, Zurich, CNA
1950 Hartford, Reliance,
Chubb
12 104 Cal State Comp Fund,
1977 Fireman's Fund, Chubb,
Golden Eagle, Hartford,
Blue Cross, Pacificare
13 45 all carriers
1986
14 65 all carriers
1983
15 75 Union Central Life,
1962 Transamerica-Occidental
Life, UNUM, First Colony,
Banner Life, Manulife
Rank Major Lines Written Profile
(in order of volume) * headquarters
* offices (county/total)
* parent company
1 all lines Chicago
3/150+
Aon Corp.
2 all lines New York
2/100
Marsh & McLennan Cos.
3 all lines Itasca, III
3/200+
same
4 survivorship life, keyman Los Angeles
insurance, foreign nationals, 1/4
term insurance, annuities National Financial
Partners
5 workers' compensation, Torrance
medical, dental, property 3/15
same
6 all lines Kansas City, Mo.
1/11
Lockton Cos.
7 all lines San Francisco
1/77
USI Ins. Svcs.
8 international medical, excess Valencia
disability for athletes, 1/same
entertainers, physicians and same
executives, international
employee benefits
9 workers' compensation, Pasadena
package, personal insurance, 1/2
directors and officers same
10 workers' compensation, Santa Monica
property and casualty, 1/same
group health same
11 all lines Nashville, Tenn.
1/50
same
12 worker's compensation, common Torrance
auto, package, general 2/5
liability, umbrella, pollution same
13 group employee benefits, Redwood City
property, casualty, 2/10
worker's compensation ABD Ins. & Fin. Services
14 property, casualty, auto, Monrovia
workers' compensation, 1/same
employee benefits, life, same
personal insurance
15 life insurance, annuities, Los Angeles
disability insurance, long- 1/5
term care insurance same
Rank Top Local Executive
* name
* title
* phone
1 Peter Arkley
managing director
(213) 630-3200
2 Margaret J. Liptay
managing director
(213) 624-5555
3 James G. McFarlane
area chairman
(818) 340-3462
4 Martin Greenberg
president
(310) 477-7500
5 Sean K. Smith
ceo
(310) 212-3344
6 Timothy J. Noonan
president, ceo
(213) 689-0065
7 H. David Wood
president, ceo
(818) 906-3350
8 Thomas R. Peterson
ceo
(661) 254-0006
9 William Bolton
ceo
(626) 799-7000
10 Ronald A. Bloom
president
(310) 309-2200
11 John R. Genovese
chairman, ceo
(818) 548-7500
12 Greg Davidian
chairman, ceo
(310) 542-4370
13 James Czesak
executive vice president
(310) 543-9995
14 Fritz Mutter
president, ceo
(626) 275-3000
15 Leo Thomas
managing partner
(310) 551-3125
(1)Includes revenue from Glendale location.
(2)HCM/ABD Insurance was fully acquired by ABD Insurance & Financial
Services on October 1st, 1999.
Note: The information on this list was supplied by representatives
of the brokerages themselves. Brokerages are ranked by 2000 L.A.
County commission income. The survey was completed during the week
of June 1,2001. To the best of our knowledge, this information is
accurate as of press time. While every effort is made to ensure
the accuracy and thoroughness of the list, omissions and
typographical errors sometimes occur. Please send corrections or
additions on company letterhead to the Research Department, Los
Angeles Business Journal, 5700 Wilshire Blvd., Suite 170, Los
Angeles 90036. [c]2001 Los Angeles Business Journal. This list may
not be reprinted in whole or in part without prior written
permission from the editor. Reprints are available from Wright's
Reprints, (877) 652-5295.
[Graph graph, figure that shows relationships between quantities. The graph of a function y=f (x) is the set of points with coordinates [x, f (x)] in the xy-plane, when x and y are numbers. omitted] [Graph omitted] |
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