Former QBE, Aon exec Fitzgerald moves to PE-owned broker

Tom Fitzgerald

Longtime insurance brokerage executive Tom Fitzgerald has joined World Insurance Associates LLC as president of the acquisitive brokerage’s retail business, the Iselin, New Jersey-based company said Thursday.

Previously, Mr. Fitzgerald was president, specialty and commercial, at QBE North America. He joined the insurer in 2020 after spending 28 years at Aon PLC, where he rose to be CEO of Aon broking.

World Insurance is the 34th largest brokerage of U.S. business with about $225 million in 2021 revenue, according to Business Insurance’s most recent ranking.

Founded in 2011 and owned by private equity investment firm Charlesbank Capital Partners, World Insurance has been an active buyer of smaller brokerages over the past several years. In 2021 it grew its brokerage revenue by 188%.

Its business includes about 44% commercial retail brokerage, 19.5% personal lines, 16% wholesale and 15.5% employee benefits.