MORRISTOWN, N.J., June 8, 2011 — Crum & Forster ("C&F"), part of the Fairfax Financial Holdings group of companies, announced today key management changes for its Specialty Lines operations in connection with its recent acquisitions of First Mercury Financial Corporation ("First Mercury"), Valiant Insurance and American Management Corporation ("AMC").
"The acquisition of First Mercury was an important strategic step for Crum & Forster in enhancing our capabilities in the Specialty Lines marketplace," said Doug Libby, C&F's Chairman and CEO. "Our combined specialty business now totals over $1 billion in gross premiums written. Following its acquisition by A XIII rated C&F, First Mercury was upgraded to A by A. M. Best Company."
Richard H. Smith, Chairman and CEO of First Mercury, has assumed responsibility for C&F's combined E&S Casualty capabilities, now operating under the CoverXSpecialty name, as well as the role of Vice Chairman of C&F. The consolidated writings of this group now rank it among the nation's largest E&S markets with over $320 million of gross premiums written. Day-to-day operations of this group are managed by Ted Camp, EVP and Chief Underwriting Officer of First Mercury.
Following the acquisition of AMC, Steve Strange, Sr. will continue his role as President of AMC under the leadership of Marc Adee, President of C&F's Fairmont Specialty Group. The combined operations will include over $150 million of gross premiums written in the energy (propane gas, service stations, fuel oil) and other specialty casualty businesses. AMC is a managing general agency producing business for numerous unaffiliated carriers in the energy and E&S arenas.
Gary Dubois, formerly President of Valiant Insurance, will oversee a combined Management and Professional Liability unit for C&F with approximately $60 million in gross premiums written. In addition, Mr. Dubois has assumed the role of President for C&F's highly profitable Seneca Insurance group.
With these changes, C&F Specialty Lines operations will include:
- CoverXSpecialty: Primary and Excess E&S Casualty including profit centers focused on: security guards, crisis management, alarm installers, contractors, oil and gas, entertainment, life sciences, hospitality and binding authority business;
- Fairmont Specialty, including its existing energy, propane gas and agricultural operations and the AMC fuel oil jobber and service station businesses;
- Fairmont Specialty's Accident and Health and travel businesses, managed by Gary McGeddy;
- Fairmont Specialty's auto and equipment dealership unit, managed by Fred Browning, and its Transportation program, managed by Tom Donnelly;
- Seneca Insurance Company, which is focused on small to middle market package business and E&S Property and Inland Marine;
- Management and Professional Liability;
- Ocean Marine and Energy, under the management of Nigel Fitzgerald;
- Environmental Casualty, under the management of Mark Brown; and
- Bail bonds.
C&F's Standard Lines has commenced writing Workers Compensation, Umbrella and other admitted coverages for industry segments in support of the Specialty Lines group including security guards, propane gas distributors and fuel oil dealers, thereby offering its brokers and insureds expanded placement capabilities.
For further information, contact:
Jorge Echemendia
Email: Email
Direct Line: 973-490-6519
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