MARKETS

LINCOLN LIFE PURCHASE

FORT WAYNE, Ind.-Lincoln National Life Insurance Co. has reached a definitive agreement to acquire the group tax-sheltered annuity business of two UNUM Corp. units for about $70 million.

Combined, UNUM Life Insurance Co. of America and First UNUM Life Insurance Co. of New York, had about 1,700 group contracts covering employees at tax-exempt institutions.

NEW GALLAGHER NAME

ITASCA, Ill.-Arthur J. Gallagher & Co. has changed the name of its National Risk Management Sales division to Gallagher Risk Management Services. Based in Itasca, Ill., Gallagher Risk Management Services also has branches in Grand Rapids, Mich., and Philadelphia.

The renamed division also is increasing its focus on value-added services and risk management activities, both domestically and internationally.

NEAR NORTH IN LONDON

CHICAGO-Near North National Group has opened a new division, Near North Entertainment Ltd., in London.

Derek Townshend has been named managing director of the new division and will develop the new office's business in the film, television and related businesses and provide service in the London and European markets for Near North's multinational clients.

Near North Insurance Brokerage is part of Near North National Group, a diverse organization providing insurance products and comprehensive risk management services. It also is a joint venture limited partner with Fireman's Fund Insurance Co. and motion picture film completion bond company International Film Guarantors.

For more information on Near North Entertainment Ltd. in London, call 011/44/193-256-2611.

BUCK SERVICE CENTER

NEW YORK-Buck Consultants Inc. has opened an expanded Participant Service Center in its Secaucus, N.J., office.

The Participant Service Center provides customized benefit plan services directly to clients' employees who call a toll-free number and receive answers to benefit plan questions and assistance with plan transactions from representatives or a voice-activated center.

The expansion adds both space and new technology to meet clients' needs for the next three to five years.

GIBBS NAME CHANGE

LONDON-The Gibbs Group of companies, which includes Lloyd's broker Gibbs Hartley Cooper, has been renamed to reflect its membership of financial service group HSBC Holdings P.L.C.

Gibbs Hartley Cooper, meanwhile, now will be known as HSBC Gibbs Ltd.

The other Gibbs Group companies also have been renamed to include the "HSBC Gibbs" moniker.

HSBC Group employs more than 100,000 people in more than 3,000 offices in 70 countries.

NEW SEDGWICK DIVISION SAN FRANCISCO-Insurance broker Sedgwick James of California Inc. has restructured its Los Angeles, Irvine and San Diego offices and refocused its ongoing California property and casualty operations. Those offices and P/C operations now will be under the direction of a new division, Sedgwick One California Risk Management Group.

Managing Director Stephanie Sparks, who is based in Los Angeles, will chair the new group, working closely with Pam Pastore and Ron Massa, co-managing directors based in San Francisco.

For more information, contact Ms. Pastore at 415-983-5187, Mr. Massa at 415-983-4601 or Ms. Sparks at 213-385-0545.