Moves (September 01, 2005)

Swiss Reinsurance Co. has appointed Jacques Aigrain as the new chief executive officer. Aigrain, who most recently served as deputy CEO of the company, will succeed John Coomber upon his retirement as CEO in December. Coomber will be nominated for the board of directors at Swiss Re’s annual general meeting in 2006, according to the company. Swiss Re also recently created the new position of chief operating officer, which will be filled by Andreas Beerli, currently head of Swiss Re’s Americas property/casualty division.

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Sandra S. Wijnberg will resign in March 2006 from her position as chief financial officer, Marsh & McLennan Companies, Inc. (MMC). Wijnberg joined MMC in January 2000. Previously, from 1997 through 1999, she held the position of senior vice president and treasurer of Yum! Brands, Inc. (formerly Tricon Global Restaurants, Inc.). Prior to joining Yum! Brands, she spent three years with PepsiCo, Inc., last serving as senior vice president and chief financial officer of its KFC Corporation division. Before joining PepsiCo, Wijnberg spent 12 years in investment banking.

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After serving the life and property and casualty insurance and reinsurance industry for almost 50 years, Pat King will retire from the position of chief agent and principal officer for Alea Canada. King spent 24 years with the direct writer as vice president and in 1987, King joined the Canadian Home Assurance Company as president and chief executive officer. He transferred to Canadian Insurance Management Inc., latterly Allianz Canada, in 1990 as executive vice president and chief operating officer. In 1995, King enjoyed an early retirement from Allianz and then joined the Canadian Branch of The Baloise Insurance Company Ltd., as chief agent and principal officer, writing P&C reinsurance. The Baloise business was assumed by Rhine Re Ltd., which became Alea Europe Ltd. Alea discontinued writing reinsurance in Canada in August 2003 and King directed the run-off operation until his retirement. King also served for several years as a director of the Insurance Institute of Ontario and as a member of the Board of Governors of the Insurance Institute of Canada. He was President of the Insurance Institute of Ontario during the 2003-2004 term. He was also a director of the Reinsurance Research Council of Canada and a member of the RRC executive committee for several years.

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Barclay Gill is set to join Broker Builder Corp., a brokerage development vendor, as vice-president of development. Most recently Gill worked within a North American premium finance company, where he spent seven years and was responsible for sales in the Western Region, including B.C. and Alberta. “Premium financing has always been first and foremost a value added service – it enables the broker to provide payment solutions for their clients,” Gill says, adding that the offering of Broker Builder Corp. is a natural evolution of the Premium Finance industry in Canada. “By taking the premium finance portfolio in-house the benefits to the broker now become two-fold,” he adds. “The value that the finance solution brings to the sale and the ability to realize real and substantial revenues. With a softening market, brokers are looking for ways to mitigate reductions in income.”

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Jewelers Mutual Insurance Co. is set to sparkle in its news digs in Canada, where the Company plans to begin offering its commercial insurance program, pending final approvals. The insurance company has partnered with Canadian Jewellers Block Insurance Services (CJB), which will represent Jewelers Mutual in Canada. The company’s programs offer customized coverage for inventory, buildings, building contents and liability; an annual dividend program for those it insures; and enrollment in Jewellers Vigilance Canada. “As a mutual company, Jewelers Mutual doesn’t have stockholders who divide the profits among themselves,” Canadian insurance broker Meredith Thomas of CJB Insurance Services, says. “This insurance company is owned and governed by its policyholders, so it returns profits to insured.”

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The Toronto and Montreal-based insurance managing general agent, Elliott Special Risks announced has partnered up with Newport Private Yield LP. This partnership has allowed Newport to acquire an ownership interest in ESR, which specializes in commercial liability insurance. The senior management will still own a significant interest and maintain operational control and responsibility for the direction of the business. “We have known the principals of Newport for fifteen years and are delighted to be their partners,” David Eastaugh, president of ESR, says. “The benefits to our company are even greater financial stability as we will enjoy a reduced cost of capital with which to pursue our growth strategy. Newport’s principals also have a wealth of experience in finance that will be an excellent added resource for us.” Coincident with this transaction, Newport Partners Income Fund, which indirectly owns Newport, successfully completed its initial public offering of trust units.

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Brian M. Storms is set to join Marsh & McLennan Cos. as chairman and chief executive officer of the Company’s brokerage unit Marsh Inc. Storms most recently served as president and CEO of Mercer Human Resource Consulting and, prior to joining Mercer in 2004, he served as president and CEO of UBS Global Asset Management Americas. Storms succeeds Michael G. Cherkasky. Cherkasky will continue to work with the Company as president and CEO of the parent company MMC. William A. Malloy will continue as president of Marsh, a role he took on earlier this year. E. Michael Caulfield, former chief operating officer of Mercer, is assuming Storms’ former position as president of Mercer.

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PPG Canada, Inc. and the Canadian Automotive Repair and Service (CARS) Council have joined forces to produce and deliver automotive collision center training across Canada. CARS interactive distance-learning network, better known as Collision TV is the epitome of a similar technology CARS had been using for over six years. This initiative under the CARS Collision Repair Interactive Distance Learning project is funded by Human Resources Skills Development Canada. PPG’s refinish courses offer technicians the ability to increase their knowledge in areas such as surface preparation, corrosion protection, refinishing plastic parts, basecoat/clearcoat application, and color adjustment techniques – a series of interactive training that enables collision centers to minimize costs associated with traditional training events. The CARS-PPG partnership aims to reduce concerns once associated with travel related expenses and reduced productivity at work. By utilizing a combination of live instructor broadcasts with a studio hotline, technicians are engaged in a professional, interactive learning process in their local areas.