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MARKETS: CNA LAUNCHES EMPLOYER SERVICES UNIT

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CHICAGO-CNA Financial Corp. has formed an employer services organization, CNA UniSource Inc. The new company has reached an agreement with Elkhart, Ind.-based Interlogic Systems Inc. under which ISI will serve as CNA UniSource's payroll services provider.

Michael W. Kooken has been named president of Chicago-based CNA UniSource, and Daniel A. Cacchione has been named senior vp of marketing. CNA UniSource services will be sold through CNA agents and ISI representatives across the country.

CNA UniSource will offer businesses a comprehensive package of services, with client employers and CNA UniSource sharing the employment responsibilities for clients' employees. The new CNA unit will provide administrative support services such as payroll, human resources and risk management.

For more information, call Daniel Cacchione at 312-822-3984.

Insurers form alliance

WALTHAM, Mass.-Arkwright Mutual Insurance Co. and Liberty Mutual Group have formed an alliance to deliver property insurance and related risk management services to the commercial insurance market.

To provide the services, Waltham, Mass.-based Arkwright has formed a wholly owned subsidiary, ALM Services Inc., which will deliver risk assessment, loss prevention engineering, claims management and supporting information services. Boston-based Liberty Mutual will sell the ALM program through its existing sales force and national network of commercial insurance offices.

ALM is expected to be fully functional by July 1. Wolfgang F. Friedel will be president and chief executive officer of the new unit.

For more information, call Teresa Schenk at 617-890-9300, ext. 3630.

Swiss Re to move

ARMONK, N.Y.-Swiss Re America broke ground June 4 for the construction of its new $100 million headquarters in Armonk, N.Y. Swiss Re America, currently based in New York, plans to build a 300,000-square-foot multistory building on the 27-acre site near the Connecticut border.

Approximately 650 employees from Swiss Re's casualty, holding and life divisions will work in Armonk. The company anticipates opening the new facility early in 1999. After the move, Swiss Re plans to maintain a corporate presence in New York City.

Adjuster network

LONDON-A group of 15 loss adjusters headed by Ellis & Buckle of Reading, England, has formed a global network to better serve multinational clients.

The partners, which together have more than 200 offices in 32 countries, plan further expansion of their network, particularly in Europe and Asia, over the coming months.

Gerry Loughney, Ellis & Buckle's managing director, said he expects to soon enlist partners in Spain and Belgium.

He said the network of independent loss adjusters enables the creation of a global network quickly and cheaply, allowing members to bypass the need to invest in overseas offices.

Each network partner will do work for clients of the others in their respective geographic areas. Mr. Loughney explained that the primary aim is to generate additional business opportunities by allowing companies participating in the network to handle large international claims and catastrophes anywhere in the world.

He said the combined revenues of the network participants this year are expected to reach $100 million.

Apart from Ellis & Buckle, companies participating in the network are: Axis (USA) Inc., Axis (Latin America) USA Inc., Texa Expertise Pres Les Societes d'Assurances of France, EMN Expertise B.V. of The Netherlands, Lercari S.r.l. of Italy, Ellis & Buckle (Nordic) A.B., Maurice W. Panas & Associates of Greece and Zektser Assessors & Surveyors Ltd. of Israel.

Also, Dilas International Loss Adjusters & Surveyors in the United Arab Emirates, CWB Adjusters Gauteng (Pty.) Ltd. of South Africa, A.K. Govil & Associates in India, Pierre Leong & Co Ltd. in Hong Kong, PT Japanansi Nusantara in Indonesia, Toplis & Harding (Singapore) Pte. Ltd., Freemans Australia, and American Appraisal Associates Inc., which has more than 50 offices globally.

THESCO acquisition

NEW YORK-THESCO Benefits L.L.C., a regional group benefits consulting company, has acquired the group insurance practice of New York-based Bartmon, Shapiro & Associates Inc.

The newly acquired division will be known as Bartmon, Shapiro & Vellis and will be headed by Ann E. Vellis. She has been appointed president of the subsidiary and senior vp of New York-based THESCO Benefits.

Among the services the companies provide are annual review and analyses of employee benefit products, insurance and administrative contract negotiations and benefits-related human resource support. Through an affiliate, THESCO Consultants Inc., they also provide retirement plan consulting and actuarial services.

New York-based THESCO Benefits was created in April when broker Tanenbaum-Harber Co. Inc. spun off its group benefits division.

Zurich Re to move

NEW YORK-Zurich Reinsurance Centre Holdings Inc. will move its headquarters to Stamford, Conn., from New York.

According to the company's agreement with the state, which will provide Zurich tax incentives under a state law aimed at attracting insurers to Connecticut, the reinsurer is looking to make the move from New York in 2000.

Frontier acquisition

ROCK HILL, N.Y.-Frontier Insurance Group Inc. has acquired Lyndon Property Insurance Co. and its subsidiaries from Mercury Finance Co. for $92 million.

Lyndon, which provides such insurance programs as credit-related insurance, residual value, extended service contracts and collateral protection coverages, will remain based in St. Louis under Chief Executive Roland Anderson.

Through its subsidiaries, Rock Hill, N.Y.-based insurance holding company Frontier is a national underwriter and creator of specialty insurance products serving niche markets.

Risk Capital Re stake

GREENWICH, Conn.-Risk Capital Reinsurance Co., a subsidiary of Risk Capital Holdings Inc., has acquired a minority interest in Brentwood, Tenn.-based Providers' Assurance Corp. for $4 million cash.

Providers' Assurance develops and markets workers comp insurance programs through joint operating arrangements with community-based health care providers and offers other workers compensation consulting services to the health care community.

Greenwich, Conn.-based Risk Capital Re funded the purchase through its existing surplus. Under the agreement with Providers' Assurance, Risk Capital Re has the right to provide reinsurance on insurance programs developed by Providers' over designated time periods.

Marsh & McLennan Risk Capital Corp. assisted Risk Capital Re in negotiating and structuring the investment.