TopGlobal

Best’s Review’s

Insurance BrokersDespite the down-

turn in the econ-omy in 2008, the

multibillion dollar global insurance brokerage busi-ness held steady, for the most part, in terms of bro-kerage revenues. As Best’s Review presents its fourth annual ranking of the major players in this mar-ketplace, there is a differ-

ence: Figures are based on 2008 brokerage revenue from the placement of pri-mary insurance business only, using data provided by the companies. Reinsur-ance, wholesale business, managing general agent and other business reve-nues not directly related to the placement of pri-mary insurance business

were excluded. Previously, the ranking was not as tightly defined. This has led to some changes in the Top 20, as some com-panies’ positions changed and others dropped off the Top 20. Beyond the economic cr isis, 2008 was a year of mergers and acquisitions for bro-kers. Aon merged with

Agent/Broker

Leading Brokers

58 BesT’s Review • July 2009

Benfield, willis acquired Hi lb Roga l & Hobbs and Gallagher made 37 acquisitions. These deals, along with some contin-ued organic growth, also altered the brokerage land-scape. looking ahead this year, many brokers plan to hone their strategies while competing in a challenging economic environment.

TopGlobal Insurance Brokers

BesT’s Review • July 2009 59

Top Global BrokersRanked by 2008 Brokerage Revenue

Ranking BrokerBrokerage Revenues 2008

1. Aon Corp. $6.2 billion

2. Marsh Inc. $4.5 billion

3. Willis Group Holdings Ltd.* —

4. Arthur J. Gallagher & Co. $950 million

5. Jardine Lloyd Thompson Group plc $853 million

6. Brown & Brown Inc. $834.1 million

7. BB&T Insurance Services Inc. $730.2 million

8. Lockton Companies Inc. $726 million

9. Hub International Ltd. $691 million

10. USI Holdings Corp. $636 million

11. Alliant Insurance Services Inc. $277.5 million

12. The Leavitt Group $169 million

13. CBIZ Benefits & Insurance Services $135.6 million

14. Keenan & Associates $123 million

15. Bollinger Inc. $103.3 million

16. Mesirow Financial $90 million

17. The NIA Group LLC $69.1 million

18. Barney & Barney LLC $63 million

19. Woodruff-Sawyer & Co. $61.4 million

20. Integro Insurance Brokers $60.7 millionNote: Figures are based on 2008 brokerage revenue from the placement of primary insurance business.* Willis declined to subtract reinsurance brokerage revenue.

60 BesT’s Review • July 2009

1. Aon Corp. Brokerage Revenues Total Revenues 2008: $6.2 billion 2008: $7.6 billion2007: $6.0 billion 2007: $7.4 billionTop Executive: Greg Case, President and Chief Executive Officer200 East Randolph St., Chicago, IL 60601Phone: 312-381-1000www.aon.comTrading symbol: AOCOwnership: Public

Top Lines: Risk brokerage, reinsurance brokerage and human capital consulting.Developments in 2008: Acquisition of Aon Benfield, divesti-ture of underwriting businesses.Strategy for 2009 & 2010: Focusing on providing value to clients; building teams of unmatched talent; and achieving operational excellence.

2. Marsh & McLennan Cos. Brokerage Revenues Total Revenues2008: $4.5 billion 2008: $11.6 billion2007: $4.4 billion 2007: $11.2 billion Top Executive: Brian Duperreault, President and Chief Executive Officer1166 Avenue of the Americas, New York, NY 10036Phone: 212-345-5000 Fax: 212-345-4808www.mmc.comTrading symbol: MMC

Top Lines: Commercial insurance.Developments in 2008: Brian Duperreault appointed chief executive officer of Marsh & McLennan Cos. Marsh Inc. was returned to profitability. A new management team at Guy Car-penter led by Peter Zaffino restructured business resulting in performance turnaround and maintained profitability. Ben Allen was promoted to CEO of Kroll and the company’s U.S. and U.K. restructuring businesses were sold to their senior executives.Strategy for 2009 & 2010: To utilize the expertise of talent and global reach to protect and enhance the value of clients while continuing the transformation of businesses, ensuring profitable growth.

3. Willis Group Holdings Ltd.Brokerage Revenues Total Revenues2008: $2.75 billion* 2008: $2.83 billion2007: $2.46 billion 2007: $2.58 billionTop Executive: Joseph J. Plumeri, Chairman and Chief Executive OfficerThe Willis Building, 51 Lime St., London, EC3M 7DQ United KingdomPhone: (44-20) 3124-6000www.willis.comTrading symbol: WSH

Top Lines: Commercial; reinsurance; construction; aero-space; energy; marine; financial and executive risks; employee benefits; health care; niche; environmental.Developments in 2008: Acquired Hilb Rogal & Hobbs. The

combination expanded Willis’ North American presence to more than 200 locations; more than doubled its North Ameri-can employee benefits business; strengthened key practice areas such as personal lines, real estate, health care, environ-mental, construction, complex property and executive risk; strengthened Willis’ leadership as a middle-market broker and reinforced its large account presence; further expanded its specialty expertise and complemented its substantial presence in the London market. In addition, as part of its wholesale strat-egy, Willis formed Faber & Dumas, a new third-party wholesale broker that includes Glencairn, a multiline specialist broker, and such specialty practices as Fine Art, Jewelry & Specie; Special Contingency Risks, which deals with kidnap and ransom insur-ance, and Hughes-Gibb, a bloodstock broker.Strategy for 2009 & 2010: Focus on top-line growth by optimizing new business development and pipeline manage-ment, cross-selling capabilities, developing new products, and expanding the Willis Client Advocate service model. Continue to execute against the “Shaping Our Future” strategy for prof-itable growth, the integration of HRH and the ongoing expense review to right-size Willis for the current environment.

4. Arthur J. Gallagher & Co.Brokerage Revenues Total Revenues2008: $950 million 2008: $1.64 billion2007: $891 million 2007: $1.62 billionTop Executive: J. Patrick Gallagher Jr., Chair-man, President and Chief Executive OfficerThe Gallagher Centre/Two Pierce Place, Itasca, IL 60143-3141Phone: 630-773-3800 Fax: 630-285-4000www.ajg.comTrading symbol: AJG

Ownership: PublicTop Lines: Retail commercial P/C; employee benefits; wholesale insurance brokerage; risk management; claims management.Developments in 2008: Gallagher announced 37 acquisitions in 2008 with annualized revenues of some $165.6 million. Gallagher completed the sale of its global reinsurance operations in the first quarter. In the third quarter, Gallagher abandoned efforts to sell its small Irish wholesale brokerage operations and ceased those operations; as a result, the revenues and expenses of these operations have been reclassified from continuing operations to discontinued operations for all periods presented. Additionally, Norman L. Rosenthal was appointed to the board of directors on Jan. 24 after Gary P. Coughlan retired from the board effective at Gallagher’s 2008 annual shareholders meeting. Major develop-ments in 1Q 2009: Gallagher entered into a definitive agreement on Jan. 21 to acquire all of the policy renewal rights from Liberty Mutual’s middle-market commercial P/C brokers located in their Midwest and Southeast regions; the company expects to hire about 75 Liberty Mutual producers in these regions. Gallagher also is acquiring substantially all of the policy renewal rights and hiring the national producer group from Wausau Signature Agency, Liberty Mutual’s commercial P/C and employee benefits insurance agency, headquartered in Wausau, Wis.; it is expected that the combined transaction will add approximately 120 new insurance sales professionals to Gallagher’s retail commercial P/C brokerage operation. The definitive agreement includes an initial payment of approximately $44 million in cash and Gallagher’s common stock and additional payments in cash or Gallagher’s

Greg Case

Brian Duperreault

Joseph J. Plumeri

J. Patrick Gallagher Jr.

* Willis declined to subtract reinsurance brokerage revenue. Willis reported $606 million in reinsurance revenue for 2007.

Agent/Broker

Leading Brokers

61BesT’s Review • July 2009

common stock (at Gallagher’s election) that are based on rev-enues generated in the two-year period beginning 12 months after closing. The maximum potential amount of the additional payments is $120 million. The agreement was subject to custom-ary closing conditions and closed on Feb. 27.Strategy for 2009 & 2010: Arthur J. Gallagher & Co. is focused on target revenue and EBITDA growth of 15%/year. Gallagher’s Retail Insurance Brokerage Operations (P/C and benefits) anticipates its greatest revenue growth over the next year will continue to come from its niche/practice groups and middle-market accounts; cross-selling other bro-kerage products to existing customers; developing and man-aging alternative market mechanisms such as captives, rent-a-captives, deductible plans and self-insurance; and through mergers and acquisitions. Gallagher’s Wholesale Insurance Brokerage Operations anticipates growth by increasing the number of broker-clients, developing new managing general agency and underwriter programs and through mergers and acquisitions. Gallagher’s Risk Management Segment (P/C Third-Party Administrator) expects its most significant growth prospects will come from Fortune 1000 companies, larger middle-market companies, captives, program business and the outsourcing of insurance company claims departments.

5. Jardine Lloyd Thompson Group plcBrokerage Revenues Total Revenues2008: $853 million 2008: $853 million2007: $753 million 2007: $753 millionTop Executive: Dominic Burke, Group Chief Executive Officer6 Crutched Friars, London, EC3N 2PH United KingdomPhone: (44-20) 7528-4444Fax: (44-20) 7528-4185

www.jltgroup.comTrading symbol: JLTOwnership: Jardine Lloyd Thompson Group plc—a publicly traded company on the London Stock ExchangeTop Lines: Risk management; insurance/reinsurance broker-age; employee benefits administration; consultancy. Developments in 2008: JLT achieved strong growth in 2008 across all of its businesses, driven by organic growth and enhanced by both favorable currency movements and the impact of acquisitions. The work undertaken in 2006 and 2007 in changing the strategy, structure and culture of the group enabled good progress. The acquisition of Harman Wicks & Swayne into JLT’s reinsurance business in June 2008 supported the continued progress of JLT Re and Lloyd & Partners had a stand-out performance during the year. Strategy for 2009 & 2010: JLT’s medium-term strategic goals are to continue to build a balanced and mutually reinforcing business using bolt-on acquisitions to enhance the composition of the group; to offer global representation, capacity and plac-ing power through an international network, with retail opera-tions that support specialty strengths; to continue working with U.S. independent brokers to provide leading risk transfer ser-vices to U.S. corporates and to underpin these goals with high quality, efficient operational processes. The group’s investment initiatives, the ICAP JLT joint venture, JLT Online and Thistle Underwriters are progressing well. The group is facing a chal-lenging economic environment across the world but remains well placed to make further progress in 2009.

6. Brown & Brown Inc.Brokerage Revenues Total Revenues2008: $834.1 million 2008: $977.5 million2007: $784.2 million 2007: $959.7 millionTop Executive: J. Hyatt Brown, Chairman 220 South Ridgewood Ave., Daytona Beach, FL 32114Phone: 386-252-9601 Fax: 386-239-5705www.bbinsurance.comTrading symbol: BROOwnership: PublicTop Lines: Middle market property/casualty.

Developments in 2008: Positive top line growth.Strategy for 2009 & 2010: Sell more insurance.

7. BB&T Insurance Services Inc.Brokerage Revenues Total Revenues2008: $730.2 million 2008: $1.03 billion2007: $631.5 million 2007: $974.5 millionTop Executive: H. Wade Reece, Chairman and Chief Executive Officer 3605 Glenwood Ave., Raleigh, NC 27612 Phone: 919-716-9777www.bbt.comTrading symbol: BBTOwnership: CorporationTop Lines: Commercial property/casualty;

employee benefits; personal lines.Developments in 2008: Client retention and organic growth; concentrated on finding more cost efficient operating models.Strategy for 2009 & 2010: Continued emphasis on organic growth and client retention while concentrating on more cost efficient operating models.

8. Lockton Companies Inc.Brokerage Revenues Total Revenues2008: $726 million 2008: $786.8 million2007: $686.4 million 2007: $742.2 millionTop Executive: David Lockton, Chairman444 West 47th St., Suite 900, Kansas City, MO 64112-1906Phone: 816-960-9000www.lockton.comOwnership: Private

Top Lines: Commercial property/casualty; executive risks; employee benefits; affinity; surety; retirement services Developments in 2008: Maintained high client retention; expanded client services in risk finance; launched Seurat Health Risk Management services; named Company of the Year in U.K.; rated highest for client service among AIRMIC Risk Managers; Best Place to Work in New York City, Denver, Kansas City, Chicago and St. Louis; expanded to Middle East with Dubai office; licensed in China and opened Shanghai office.Strategy for 2009 & 2010: Deliver on “We Live Service!” strat-egy; support clients through economic turmoil and recovery; continue to expand capabilities in executive risks; core com-mercial property/casualty services; enhance retirement services.

Dominic Burke

H. Wade Reece

David Lockton

J. Hyatt Brown

62 BesT’s Review • July 2009

9. Hub International Ltd.Brokerage Revenues Total Revenues2008: $691 million 2008: $757.5 million2007: $589 million 2007: $651 millionTop Executive: Martin P. Hughes, Chairman and Chief Executive Officer55 East Jackson Blvd., Chicago, IL 60604Phone: 877-402-6601www.hubinternational.comOwnership: PrivateTop Lines: Commercial lines; personal lines; employee benefits.

Developments in 2008: Hub International completed a total of 16 acquisitions in 2008 throughout the U.S. and Canada, including Scheer’s (Illinois) and HKMB (Toronto).Strategy for 2009 & 2010: Sustain growth through contin-ued development of sales culture, increased emphasis on enhancing the customer experience, organic growth, strate-gic acquisitions, improved productivity and margins. In early 2009, Hub acquired the renewal rights to Liberty Mutual’s middle-market commercial property/casualty business in Ari-zona, Arkansas, California, Colorado, Hawaii, Kansas, Louisi-ana, Nebraska, Oklahoma, Utah and Texas.

10. USI Holdings Corp.Brokerage Revenues Total Revenues 2008: $636 million 2008: $636 million2007: $623 million 2007: $623 millionTop Executive: Michael J. Sicard, Chairman, President and Chief Executive Officer555 Pleasantville Road, Suite 160 South, Bri-arcliff Manor, NY 10510Phone: 914-749-8500 Fax: 914-749-8550www.usi.bizOwnership: Private, owned by Goldman

Sachs Capital Partners and ManagementTop Lines: Property/casualty; group employee benefits; spe-cialized benefits services.Developments in 2008: USI realized growth in revenues, EBITDA (earnings before interest, taxes, depreciation and amortization) and EBITDA margins. In addition, USI acquired $44.5 million in annualized revenues.Strategy for 2009 & 2010: Continue to grow organically and through targeted acquisitions while improving mar-gins and operating efficiencies. In first quarter of 2009, USI announced the acquisition of the northeastern middle-market P/C direct business from Liberty Mutual Insurance Group, including the hiring of 43 Liberty Mutual sales professionals.

11. Alliant Insurance Services Inc.Brokerage Revenues Total Revenues2008: $277.5 million 2008: $335.8 million2007: $239 million 2007: $296 millionTop Executive: Thomas W. Corbett, Chairman and Chief Executive Officer1301 Dove St., Suite 200, Newport Beach, CA 92660Phone: 949-756-0271www.alliantinsurance.com

Ownership: Private (The Blackstone Group and Management)Top Lines: Property/casualty, employee benefits.Developments in 2008: Completed two acquisitions.Strategy for 2009 & 2010: Remain independent; continue to grow organically; selective acquisition strategy; recruit top senior-level production talent.

12. The Leavitt GroupBrokerage Revenues Total Revenues2008: $169 million 2008: $187 million2007: $168 million 2007: $186 millionTop Executive: Dane Leavitt, Chief Executive Officer216 South 200 West, Cedar City, UT 84720Phone: 435-586-6553 Fax: 435-586-1510www.leavitt.comOwnership: C corporationTop Lines: Commercial package; workers’

compensation; general liability.Developments in 2008: Acquired Jenkins Insurance Group, a $25 million revenue multilines agency with offices in Concord and Sacramento, Calif.; acquired Service Insurance Agency of Vernal, Utah, a significant provider of insurance to the petroleum services industry in the Rocky Mountain West; formed Leavitt Benefits Services, a centralized, agency-owned facility that pro-vides value-added services to benefit clients and brokers.Strategy for 2009 & 2010: Strengthen sales culture, pro-ducer recruitment and development, consolidate wholesale relationships, continued acquisition activity.

13. CBIZ Benefits & Insurance ServicesBrokerage Revenues Total Revenues2008: $135.6 million 2008: $178.2 million2007: $141.5 million 2007: $175.1 millionTop Executive: Robert A. O’Byrne, President11440 Tomahawk Creek ParkwayLeawood, KS 66211Phone: 913-234-1788 Fax: 913-458-5279Ownership: PublicTop Lines: Benefits, consulting and admin-istration; retirement planning services; prop-erty/casualty; payroll services; human capital services; individual wealth management.

Developments in 2008: In keeping with strategy of building out CBIZ service capabilities within key markets, CBIZ Inc. acquired five companies in 2008: Computer Payroll Co, Palm Desert, Calif., (a payroll processing firm); NAIS, Frederick, Md., (large pro-vider of innkeepers insurance); EFL Associates, Overland Park, Kan., (leading national executive search firm); Mahoney Cohen & Co, New York (full service accounting and management consult-ing firm); Tofias PC, Cambridge, Mass., (accounting firm).Strategy for 2009 & 2010: Commitment to helping to grow cli-ents’ businesses as well as investing in company’s people con-tinue to be central to primary strategy. Cross-serving as well as acquisitions that build out CBIZ service capabilities within key markets will help to bring additional services to clients. Inter-nally, continue to support and grow CBIZ Women’s Advantage, Great People Great Place Initiative, and provide comprehensive business development training for associates through CBIZ Training Academy.

Michael J. Sicard

Thomas W. Corbett

Dane Leavitt

Robert A. O’Byrne

Martin P. Hughes

Agent/Broker

Leading Brokers

63BesT’s Review • July 2009

14. Keenan & AssociatesBrokerage Revenues Total Revenues2008: $123 million 2008: $123 million2007: $132.2 million 2007: $132.2 millionTop Executive: Sean K. Smith, President and Chief Executive Officer2355 Crenshaw Blvd, Suite 200, Torrance, CA 90501Phone: 310-212-3344 Fax: 310-782-2084www.keenan.comOwnership: Privately held ESOP

Top Lines: Workers’ compensation; property and liability; employee benefits. Developments in 2008: Expanded technology portal and administration tools to property/casualty, which is a major, long-term undertaking and will be a large part of the compa-ny’s focus for the next year and beyond.Strategy for 2009 & 2010: The company said it does not announce future strategy publicly for competitive reasons.

15. Bollinger Inc.Brokerage Revenues Total Revenues2008: $103.3 million 2008: $103.3 million2007: $103.6 million 2007: $105 millionTop Executive: John A. Windolf, Chairman and Chief Executive Officer101 JFK Parkway, Short Hills, NJ 07078Phone: 800-526-1379 Fax: 973-921-2876www.bollingerinsurance.comOwnership: Private

Top Lines: Benefits, commercial lines, personal lines and program business.Developments in 2008: Completed four acquisitions and enhanced client services.Strategy for 2009 & 2010: Equal growth from mergers and acquisitions and organic improvements.

16. Mesirow Financial Brokerage Revenues Total Revenues2008: $90 million 2008: $91 million2007: $89 million 2007: $81.4 millionTop Executive: Richard S. Price, President and Chief Operating Officer321 North Clark St., Chicago, IL 60654Phone: 312-595-6200 Fax: 312-595-6993www.mesirowfinancial.comOwnership: PrivateTop Lines: Employee benefits; life and disabil-

ity; personal lines; property/casualty; structured settlements.Developments in 2008: Launched a new corporate identity to mark the next chapter in the firm’s evolution and was also ranked as one of Chicago’s best places to work by Crain’s Chi-cago Business. Added a number of new producers and busi-ness development alliances including additional niche markets.Strategy for 2009 & 2010: Plan for growth will continue to involve strategic acquisitions of agencies where synergies exist as well as the recruitment of talented professionals. Mesirow Financial will be moving to a new 45-story head-quarters developed by Mesirow Financial Real Estate Inc.

17. The NIA Group LLCBrokerage Revenues Total Revenues2008: $69.1 million 2008: $69.7 million2007: $70.6 million 2007: $73.4 millionTop Executive: Paul Gross, Chief Executive Officer66 Route 17, Paramus, NJ 07652Phone: 201-845-6600www.niagroup.comOwnership: Limited liability corporation

Top Lines: Commercial lines; personal lines; employee benefits.Developments in 2008: Provided a substantial amount of staff training, made a major financial investment in updated computer systems and reconfigured several key departments.Strategy for 2009 & 2010: The focus is on organic growth and retention. A major initiative is to hire successful, experienced pro-ducers and expand sales management capabilities. The firm seeks to make strategic acquisitions that complement existing offices.

18. Barney & Barney LLCBrokerage Revenues Total Revenues2008: $63 million 2008: $63 million2007: $52 million 2007: $52 millionTop Executive: Paul J. Hering, Chief Executive Officer and Managing Principal9171 Towne Centre Drive, Suite 500, San Diego, CA 92122Phone: 800-321-4696www.barneyandbarney.comOwnership: Private

Top Lines: Property/casualty; employee benefits.Developments in 2008: Merged with Saylor & Hill Co.Strategy for 2009 & 2010: As the company turns 100 this year, will continue to focus on aggressive growth, while not losing sight of core values and mission to serve clients, col-leagues and community.

19. Woodruff-Sawyer & Co.Brokerage Revenues Total Revenues2008: $61.4 million 2008: $61.4 million2007: $61.2 million 2007: $61.2 millionTop Executive: Charles Rosson, Chief Executive Officer220 Bush St., 7th Floor, San Francisco, CA 94104Phone: 415-391-2141www.wsandco.comOwnership: Private, 27% employee stock ownership plan

Top Lines: Property/casualty, employee benefits and man-agement liability.Developments in 2008: Established CleanTech Practice to meet the risk management needs of this emerging market. Named the #1 D&O Broker in the nation by the 2007 Towers Perrin Directors & Officers Liability survey. In addition to being named #1 D&O broker overall, Woodruff-Sawyer is the only bro-ker to be listed in all client asset sizes delineated in the survey. In addition, expanded employee benefits services by opening

Sean K. Smith

John A. Windolf

Richard S. Price

Paul Gross

Paul J. Hering

Charles Rosson

64 BesT’s Review • July 2009

new regional office, adding enhanced compliance capabilities and developing new communications services. Woodruff-Saw-yer was a winner of the 2008 Alfred P. Sloan Award for Business Excellence in Workplace Flexibility, distinguishing the employer as a leading practitioner of workplace flexibility. Launched new podcast series addressing insurance regulatory topics.

20. Integro Insurance BrokersBrokerage Revenues Total Revenues2008: $60.7 million 2008: $63 million2007: $57.2 million 2007: $58 millionTop Executive: Peter Garvey, Chief Executive Officer1 State Street Plaza, 9th Floor, New York, NY 10004Phone: 877-688-8701www.integrogroup.comOwnership: Private

Top Lines: Complex risk including property/casualty; management risk; health care; international including wholesale and reinsurance. Developments in 2008: Realized industry-leading 19% organic revenue growth over 2007 and 98% client retention rate during 2008. Identified by Greenwich Quality Index as the industry leader in client satisfaction, quality of service, knowledge and technical execution. Expansion of facultative reinsurance and U.K. wholesale units. Strategy for 2009 & 2010: Continue industry leading organic growth. Expand core offerings, proven capabilities and top lines. Build on reputation for creativity, thought leadership and quality service.

The following brokers, although not ranked, shared their results, development and strategies with Best’s Review.

AH&T InsuranceBrokerage Revenues Total Revenues2008: $18.5 million 2008: $18.7 million2007: $17.5 million 2007: $18.0 millionTop Executive: Alexander Green, President 20 South King St., Leesburg, VAPhone: 703-777-2341www.ahtins.comOwnership: PrivateTop Lines: Property/casualty. Assurance Agency Ltd. Brokerage Revenues Total Revenues 2008: $39.7 million 2008: $39.7 million2007: $35.6 million 2007: $35.6 millionTop Executive: Anthony Chimino, Chief Executive Officer1750 East Golf Road, Schaumburg, IL 60173Phone: 847-797-5700www.assuranceagency.comOwnership: PrivateTop Lines: Property/casualty; employee ben-efits; bonds.

Bolton & CompanyBrokerage Revenues Total Revenues2008: $21.5 million 2008: $21.5 million2007: $20 million 2007: $21.7 millionTop Executive: Steven Brockmeyer, President and Chief Executive Officer; Ronald Wanglin, Chairman, 245 South Los Robles Ave., Pasadena , CA 91101Phone: 626-799-7000www.boltonco.comOwnership: S corporationTop Lines: Commercial property/casualty; employee benefits; personal lines.Developments in 2008: Focused on contin-ued organic growth and development of new brokers. Strengthened offerings to employee benefits clients. Became exclusive broker for Human Resources Association with more than 3,000 members.

Strategy for 2009 & 2010: Pursuit and training of new bro-kers. Acquisition of other agencies. Further development of target markets and programs.

Insurica (North American Group) Brokerage Revenues Total Revenues2008: $43.1 million 2008: $43.1 million2007: $39.01 million 2007: $39.01 millionTop Executive: Michael F. Ross, President and Chief Executive Officer5100 North Classen Blvd., Suite 300, Oklahoma City, OK 73118Phone: 405-523-2100

www.insurica.comOwnership: CorporationTop Lines: Workers’ compensation; property/casualty.Developments in 2008: Phoenix acquisition.Strategy for 2009 & 2010: Corporatewide branding initiative: INSURICA Insurance Management Network.

Meadowbrook Insurance Group Inc.Brokerage Revenues Total Revenues2008: $11.1 million 2008: $105.6 million2007: $11.3 million 2007: $96.9 millionTop Executive: Robert S. Cubbin, Chief Executive Officer and President26255 American Drive, Southfield, MI 48034-6112Phone: 800-482-2726www.meadowbrook.comTrading symbol: MIGOwnership: PublicTop Lines: Commercial business (property/

casualty); life/health, benefits; personal lines. Developments in 2008: Launched a wholesale operation called MarketPlus. The entity represents Meadowbrook’s newly acquired subsidiary, Century Insurance Group, a lead-ing excess and surplus lines products facility, as well as other strategic markets.

Peter Garvey

Robert S. Cubbin

Ronald Wanglin

Steven Brockmeyer

Michael F. Ross

AlexanderGreen

Anthony Chimino

Agent/Broker

Leading Brokers

Strategy for 2009 & 2010: Growth of wholesale agency MarketPlus; expanded growth in the health and benefits segment. The company also continues to review select agency and program administrator acquisition candidates, while recruiting experienced individual account executives and producers.

R&R Insurance Services Inc. Brokerage Revenues Total Revenues2008: $21.2 million 2008: $21.2 million2007: $21.3 million 2007: $21.3 millionTop Executive: Kenneth P. Riesch, President 1581 East Racine Ave., Waukesha, WI 53186Phone: 262-574-7000www.myknowledgebroker.comOwnership: S corporationTop Lines: Commercial property/casualty; life and health; personal lines.Developments in 2008: Further investment in

e-communications and Web site.

Schiff, Kreidler-Shell Inc. Brokerage Revenues Total Revenues2008: $22.7 million 2008: $22.7 million2007: $22.2 million 2007: $22.9 millionTop Executive: Thomas R. Dietz, Chairman and Chief Executive Officer1 West Fourth St., Suite 1300,Cincinnati, OH 45202Phone: 513-977-3100Fax: 513-977-3193www.sksins.comOwnership: Privately held S corporation

Top Lines: Commercial property/casualty; life and employee benefits; personal property/casualty.Developments in 2008: Expanded offerings in the area of financial services.Strategy for 2009 & 2010: Continue to refine a structure of sales support and accountability.

Thoits Insurance Service Inc.Brokerage Revenues Revenues2008: $11.9 million 2008: $11.9 million2007: $11.1 million 2007: $12.5 millionTop Executive: Paul Saich, Chief Executive Officer 160 W. Santa Clara Street, 12th Floor, San Jose, CA 95113-1171Phone: 408-792-5400www.thoitsinsurance.com

Ownership: ESOP Top Lines: Workers’ compensation; commercial; group benefits.Developments in 2008: Transition of leadership, including new Chief Executive Officer Paul Saich, previously executive vice president. Recruiting of young producers. Organization into four revenue teams: risk management, select commer-cial, personal insurance, employee benefits.

Strategy for 2009 & 2010: Five-year strategic plan to grow from $125 million premium to $300 million premium by 2015. Emphasizing internal growth and producer recruiting.

Wells Fargo Insurance ServicesBrokerage Revenues2008: $1.7 billion* 2007: $1.5 billionTop Executive: Neal Aton, President and Chief Executive Officer of Wells Fargo Insurance Services, the commercial lines brokerage and Wells Fargo Insurance Inc., the personal lines brokerage. 150 North Michigan Ave., Suite 3900, Chicago, IL 60601Phone: 312-423-2500 https://wfis.wellsfargo.comTrading symbol: WFC

Ownership: PublicTop Lines: Commercial lines; personal lines; employee ben-efits; life wholesale.Developments in 2008: Wells Fargo acquired Wachovia, including Wachovia Insurance Services Inc. Prior to the acquisition, Wells Fargo Insurance Services ranked as the fourth-largest global insurance broker based on total broker-age revenue and Wachovia’s insurance brokerage operation ranked as 12th largest. Wells Fargo also became the exclusive manager of the HLA Global Network, now known as the Wells Fargo Global Bro-ker Network. The Network has 10,000 insurance and risk management professionals serving customers from 330 offices across 70 countries, and provides insurance broker-age services in 115 countries. BR

Thomas R. Dietz

Paul Saich

Kenneth P. Riesch

* Wells Fargo declined to provide Best’s Review with year-end 2008 brokerage revenue. However, the company reported $1.7 billion in insurance revenue through Sept. 30, 2008, the end of the third quarter.

Neal Aton

BesT’s Review • July 2009 65

At the Market:Health/HMODec. 31, 2004 = 1,000A.M. Best’s U.S. Health & HMO Insurance Index (AMBUH)

Stock performance: From May 8, 2009 to June 5, 2009

650

679

708

737

766

795

52922158

At the Market: Global ReinsuranceDec. 31, 2004 = 1,000A.M. Best’s Global Reinsurance Index(AMBGR)

Stock performance: From May 8, 2009 to June 5, 2009

760

773

786

799

812

825

52922158

At the Market: U.S. LifeDec. 31, 2004 = 1,000A.M. Best’s U.S. LIfe Index (AMBUL)

Stock performance: From May 8, 2009 to June 5, 2009

550

583

616

649

682

715

52922158

At the Market: U.S. Property/Casualty

Dec. 31, 2004 = 1,000A.M. Best’s U.S. Property/Casualty Index (AMBUPC)

Stock performance: From May 8, 2009 to June 5, 2009

875

888

901

914

927

940

52922158

At the Market: U.S. Brokers

Dec. 31, 2004 = 1,000A.M. Best’s U.S. Brokers Index (AMBUB)

Stock performance: From May 8, 2009 to June 5, 2009

785

801

817

833

849

865

52922158

May

May

May May

May

June June June

June June

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