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Member, Beacon International Group, Ltd.
1957
E.W. Blanch Co. is formed as a partnership.
1993
Blanch goes public as E.W. Blanch Holdings Inc.
1999
Unicover Managers Inc. workers compensation pools collapse, roiling work comp carve-out reinsurance market and forcing Blanch to eliminate Unicover-related commissions.
Blanch enters negotiations to be acquired by an unnamed potential buyer. Talks fall apart late in the year.
March 2000
E.W. Blanch Co.'s President Rodman Fox and Executive Vp Paul Karon resign to join Benfield Greig Group P.L.C. Blanch simultaneously reports lower-than-expected first-quarter earnings and its stock price plummets to less than $20 per share from about $55.
Mr. Fox and Mr. Karon sue Blanch for a ruling on the validity of their non-compete agreements, and Blanch countersues the two men for breaching their duties to the broker.
November 2000
Blanch again jolts investors in announcing a third-quarter net loss following reversal of previously booked revenues and a series of write-downs. The company launches a cost-cutting drive and hires Lazard Freres & Co. L.L.C. to "explore strategic alternatives."
January 2001
Ted Blanch Jr., son of Blanch's founder, resigns as chairman and CEO, becoming chairman emeritus of the holding company. Chris Walker, president of Blanch Holding, assumes the additional titles.
February 2001
A shareholder lawsuit is filed against Blanch officials over the huge drop in the broker's stock price.
Blanch reports a 14.8% decline in revenues to $208.2 million and a $9.6 million net loss for 2000.
April 2001
Benfield Greig announces it will acquire Blanch for $179 million.