NCRIC, ProAssurance to merge

Washington-based NCRIC Group Inc., a medical malpractice insurer that covers physicians in several Mid-Atlantic states, announced Monday that it plans to merge into Birmingham, Ala.-based ProAssurance Corp. in an all-stock transaction worth $69.6 million. NCRIC was the parent of the first captive insurance company licensed in the District of Columbia....Ian Martin has retired as executive chairman of London-based broker Heath Lambert Group Ltd. Adrian Colosso, formerly group managing director, has taken over as chief executive of the company, while Mike Bruce, formerly group commercial director, has become group managing director. Mr. Martin took on the role of executive chairman of the company in 2003 when David Margrett, then CEO, resigned....Brit Insurance Holdings P.L.C. announced pretax profits of £102 million ($195.4 million) for 2004, a 32.1% increase over 2003. In addition, the London-based company announced that Dane Douetil, currently deputy CEO of the group, will become CEO in April. He will succeed Neil Eckert, who will remain at the company as an executive director until the end of 2005 and as a nonexecutive director thereafter.