Brokers by the numbers.
In its plans for 2006-2007, Jardine Lloyd Thompson Group Plc. (ranked No. 6) predicted a "very competitive" race among brokers to retain and grow market share. Jim McFarlane, chairman of the West Coast Region and executive vice president of the Brokerage Services Division for Arthur J. Gallagher & Co. (ranked No. 4) agreed that the market will be competitive, but said that Gallagher will maintain its long-term strategies, two of which are talent development and acquisitions.
Gallagher has had an internship program for 40 years, McFarlane said. "And we also have our Career Launch Program, a new 24-month program to develop younger associates." As for acquisitions, Gallagher is looking for "partners that have compatible vision and bring expertise in areas that we are interested in," he said. "We want to add new areas of expertise, but it must be a cultural fit."
One intermediary that has revised its strategy recently, particularly in the area of brand building, is C.V. Starr & Co. Inc. "Rising Starr" on page 30 examines the company's emergence from the shadow of American International Group, the acrimonious nature of the split, and Starr's plans for growing its four insurance agencies.
And it wouldn't be July with Best's Review's rankings of the top life writers and the top property/casualty writers, beginning on pages 46 and 55. Accompanying the top P/C writers is the first article in a series on coping with catastrophe. "High Water Mark" on page 49 describes the controversy over reforming the National Flood Insurance Program.
Sally Whitney is editor. You may reach her at (908) 439-2200, Ext. 5340, by writing to A.M. Best Co., Ambest Road, Oldwick, NJ 08858, or by e-mail at firstname.lastname@example.org. The e-mail address for Best's Review is email@example.com.
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|Title Annotation:||Best's Review presents insurance broker rankings|
|Date:||Jul 1, 2006|
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