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Member, Beacon International Group, Ltd.
LONDON--Prentis Donegan Partners and Price Forbes Ltd. plan to merge, the two London-based brokerages announced.
The combined entity would handle more than $500 million in premiums. In 2003, Price Forbes reported $254 million in premium and Prentis Donegan processed premiums of $331 million.
Both companies have operations in London and in Bermuda and are licensed Lloyd's of London brokers.
Prentis Donegan places property, casualty, marine and energy coverages, among other things; Price Forbes specializes in property, casualty, medical stop-loss and directors and officers liability insurance, among other things.
The merged company will be known as Price Forbes and will be chaired by Simon Fisher, the current chairman of Price Forbes. Michael Donegan, chairman of Prentis Donegan, will become chief executive officer of the merged company.
Terms of the deal were not disclosed.