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Market Moves


ACE expanding to Peru, Bahrain

LIMA, Peru—ACE Ltd., with approval from Peru's superintendent of banks and insurance, has begun operations in Lima, Peru, under the badge of ACE Seguros S.A.

ACE Seguros, which consists primarily of the assets of Altas Cumbres Life Insurance Co., which ACE acquired in December, specializes in accident, group, credit life and commercial property/casualty insurance.

ACE Ltd. Chairman and Chief Executive Officer Evan Greenberg described Peru's insurance market as "dynamic and rapidly developing" and said ACE looks forward to expanding ACE Seguros "to include a broad array of life, accident and health insurance products."

Separately, ACE Ltd. received approval to underwrite commercial property/casualty insurance and reinsurance in Bahrain.

The Bermuda-based insurer said it would write domestic business and facultative reinsurance focusing initially on oil and gas, power generation, large and/or complex property, casualty, construction, and directors and officers liability.

ACE, which said it received operational approval from the Central Bank of Bahrain, has had a representative office in Manama, Bahrain, since November.

HRH purchases Kansas brokerage, consultant

OVERLAND PARK, Kan.—Hilb Rogal & Hobbs Co. has purchased The Resource Group L.C., an Overland Park, Kan.-based benefits brokerage and consulting firm, for an undisclosed amount.

Founded in 1996, TRG had about $5.1 million in 2006 revenue, HRH said in a statement.

Richmond, Va.-based HRH said it planned to complete the acquisition last week and said TRG's staff of 37 would operate as part of HRH's central region under William L. Chaufty, vp and central region director of HRH.

Arthur J. Gallagher buys Minn. Agency

MENDOTA HEIGHTS, Minn.—Arthur J. Gallagher & Co. has purchased retail insurance brokerage Spanjers Insurance Agency Inc. for an undisclosed sum.

Mendota Heights, Minn.-based Spanjers, which was formed in 1998, offers risk management, commercial property/casualty and employee benefits services and has specialized in the fitness, restaurant, manufacturing, transportation and construction industries.

"George T. Spanjers and his associates will continue to operate out of their current location" under the direction of Steven A. Ring, north central regional manager of Gallagher's retail brokerage services division, Itasca, Ill.-based Gallagher said in a statement.

Catlin Group opens equine unit in Kentucky

LEXINGTON, Ky.—Specialty property/casualty insurer and reinsurer Catlin Group Ltd. has opened an equine underwriting unit in Lexington, Ky.

The four-person unit is headed by equine insurance veteran Sheila Gott, director of equine underwriting for Catlin U.S., Bermuda-based Catlin said in a statement.

Catlin's equine underwriting office is at 2333 Alexandria Drive, Lexington, Ky. 40504. Phone: 859-967-8424, 8542.

,b>Integro launches office in Tennessee

FRANKLIN, Tenn.—New York-based Integro Insurance Brokers has opened its 12th office since its May 2005 founding, the latest in Franklin, Tenn., near Nashville.

The office at 725 Cool Springs Blvd., Franklin, Tenn. 37067, is led by Greg Daniels, a managing principal with more than 30 years of property/casualty experience, most recently with Marsh Inc.

RLI forms property reinsurance arm

STAMFORD, Conn.--RLI Corp., a Peoria, Ill.-based specialty insurer, has created RLI Reinsurance to underwrite property facultative reinsurance.

Kevin Brawley, reinsurance president, and his team will focus on "providing truly innovative risk transfer solutions," said Michael Stone, RLI Insurance Co. president and chief operating officer.

The RLI Re office is at Six Landmark Square, Suite 469, Stamford, Conn. 06901. Phone: 203-359-5643.

NYMAGIC arm focuses on smaller risks

NEW YORK—NYMAGIC Inc. said its subsidiary, Southwest Marine & General Insurance Co., has received approval from the Excess Lines Assn. of New York to write surplus business in the state.

In a statement, NYMAGIC said Southwest Marine would focus on smaller property, casualty and professional liability risks that do not qualify for the New York Free Trade Zone, an area already served by NYMAGIC's New York Marine & General Insurance Co.

Engle Martin opens Nashville office

NASHVILLE, Tenn.—Engle Martin & Associates Inc., an Atlanta-based insurance adjuster and claims management firm, has opened an office in Nashville, Tenn.

Five-year Engle Martin veteran Jarred McNeal, general adjuster, is leading the office at 211 Union St., Suite 711, Nashville, Tenn. 37201. Phone: 615-942-7690.

With the addition of Nashville, Engle Martin said it now has 22 U.S. offices.

Frank Crystal & Co. opens Hamptons office

BRIDGEHAMPTON, N.Y.—Frank Crystal & Co. has expanded its private client services unit "to another community of high-net worth individuals," this one in the Hamptons, the New York-based brokerage said in a statement.

John Wiltshire, director in the personal insurance department that is part of the private client services unit, will work in the new office at 2316 Main St., Suite G, Bridgehampton, N.Y. 11932. Phone: 631-537-5939.

Lincoln Financial taps for Web site

PHILADELPHIA—Philadelphia-based Lincoln Financial Group has reached agreement with Inc. to provide an online dental resource for employees.

The Web-based service, Lincoln DentalConnect, is aimed at employees and their dependents insured by a Lincoln Financial dental policy, Go2dental, a Santa Clara, Calif.-based information technology and decision support tool supplier, said in a statement.

Cigital, Guardium form data security partnership

Cigital Inc., a Dulles, Va., software risk management consulting firm, and Guardium Inc., a Waltham, Mass., data security company, said they have formed a referral partnership to enhance data security and compliance for their respective customers.

Cigital experts can address legacy and Web 2.0 application integration issues while Guardium provides an appliance-based solution for real-time protection of sensitive corporate information, the companies said in a statement.