Insurance broker Acrisure L.L.C. said Monday that it has named D. Michael Sherman president.
Mr. Sherman succeeds Greg Williams, who previously served as president and chief executive officer, Caledonia, Michigan-based Acrisure said in a statement. Mr. Williams will continue in the role of CEO, the statement said.
Mr. Sherman joined Acrisure as a strategic advisor in January, according to the statement.
Acrisure is the 14th largest broker of U.S. business, according to Business Insurance’s latest ranking.
A Travelers Cos. Inc. unit is not obligated to pay more than $36 million in indemnification and prejudgment interest to a manufacturing company because of an asbestos exclusion in its excess policies, says a federal appeals court, overturning a lower court ruling.