Duperreault Named Chairman of FACI
Brian Duperreault, president and CeO of Marsh & Mclennan Cos., has been named chairman
of the Federal advisory Committee on insurance (FaCi).
the announcement was made
March 30 by Marsh & Mclennan, following the committee’s
Duperreault has close to
40 years of experience in the
insurance industry. He has
held top leadership roles at
the industry’s most prominent
firms. prior to his current role,
he was CeO of aCe ltd. and a member of
that company’s board.
He also served in senior executive
positions with aiG and its affiliates. in 2011,
he was inducted into the international
insurance Society’s Hall of Fame.
FaCi was formed by the u.S. Department
of treasury to provide advice to the Federal
insurance Office (FiO), which was created
under the Dodd-Frank Wall Street reform
and Consumer protection act.
appointments to the
15-member FaCi, the first
such committee of its kind in
u.S. history, were announced
by the treasury late last year.
FaCi comprises insurance-
industry experts from business,
academia and consumer-
advocacy groups, along with
seven state insurance regulators.
the committee is to
meet several times a year to develop
recommendations that will aid FiO in
carrying out its duties and authorities.
FiO monitors all aspects of the insurance
industry and advises the secretary of
the treasury on major domestic and
international insurance-policy issues. NU
Co-operative insurance cos. be- came the 66th company member of thetrusted choice consumer-branding
program for independent insurance agents
co-operative insurance, headquartered in
Middlebury, vt., is an association of three
vermont-based co-operative fire-insurance
companies: the patrons co-operative Fire
insurance co., the Farmers co-operative Fire
insurance co. and the rural co-operative Fire
insurance co. the companies date back to
1915, 1924 and 1933, respectively.
Marsh Acquires Cosmos Services;
Hub Acquires Signature Insurance
BY MARK E. RUQUET
MarSH, a WHOlly owned sub- sidiary of Marsh & Mclennan Cos., saysithasacquired Cosmos
Services (america) inc., the u.S. insurance-brokerage subsidiary of global trading firm
With offices in new york, los angeles
and Chicago, Cosmos specializes in
providing commercial p&C, personal-lines
and employee-benefits brokerage services
to u.S. subsidiaries of Japanese companies.
it has annual revenues of approximately
Cosmos’ employees will become part
of Marsh’s asia Client Services (aCS) team
under the leadership of John McDonnell,
president and CeO of aCS in the united
States. Marsh says the deal further
strengthens its capabilities and resources
in serving Japanese clients in the u.S. and
also forges a strategic relationship between
Marsh and itochu.
based Hub international ltd. says it has
acquired the assets of Signature insurance
Group inc., a Woodinville, Wash.-based
insurance-benefits brokerage firm.
Signature is a long-standing brokerage
serving the insurance and risk-management
needs of businesses and individuals
throughout Washington, Oregon, idaho and
alaska. Signature offers a range of personal-and commercial-lines products and services,
with a specialty in serving condominium
associations and apartment complexes.
Signature will become part of the
Hub international northwest (Hub
Dennis Boyd, vice president of real
estate sales, will join Hub northwest in
connection with this transaction, reporting
to erik Kuhn, vice president of commercial
retail. Boyd was a former member of the
Seattle Seahawks pro football organization
as a player during the late ‘70s and early ‘80s.
terms of both transactions were not
in 1951, for financial and efficiency reasons,
the three individual companies joined forces
as co-operative Fire insurance association of
vermont. in 1997, the name was changed to
co-operative insurance cos.
co-operative insurance serves home, auto,
business and farm owners in vermont and new
“We’re happy to be associated with the
trusted choice program,” says Marie Jewett,
president and ceo of co-operative insurance.
“trusted choice provides excellent tools to and
visibility for independent agents; we believe that
joining the program is an opportunity for us to
further support our agency force in vermont and
established in 2001, trusted choice is the
independent agent-branding campaign set
up by the independent insurance agents &
Brokers of america. NU