Former Marsh & McLennan executive Bob Newhouse dies

Insurance industry veteran Robert “Bob” J. Newhouse Jr. died Saturday after a brief illness.

He spent 36 years at Marsh & McLennan Cos. Inc., where he was a senior executive for Guy Carpenter & Co. L.L.C., and retired as vice chairman of Marsh & McLennan in 1990.

Mr. Newhouse, a U.S. Navy officer during World War II, was one of the architects of the Bermuda insurance industry and was “instrumental in creating and managing such companies as Ace, Excel, Axis, Mid Ocean” and many others, according to his death notice in The New York Times. 

After his retirement, Mr. Newhouse continued to serve on many of the boards of the companies he founded. He was also an active consultant to Stone Point Capital, a Marsh & McLennan spin-off company that specializes in private equity investments, until his death, according to the Times.

“During his 36-year career at Marsh & McLennan, Bob was a transformative leader in our company’s history, an iconic executive in our industry and a true gentleman,” Dan Glaser, president and CEO of Marsh & McLennan, said Wednesday in a statement. “On behalf of all of our colleagues at Marsh & McLennan, I extend our heartfelt condolences to Bob’s family, and celebrate his life and many contributions.