Financial Services Industry
Industry: Email Alert RSS FeedRBH to buy BMF brokerage arm. (Rollins Burdick Hunter, Bayly, Martin & Fay)
National Underwriter Property & Casualty-Risk & Benefits Management, May, 1989 by Aschkenasy, Janet
RBH To Buy BMF Brokerage Arm The seventh largest broker in the U.S., Rollins Burdick Hunter of Chicago, is set to acquire the retail brokerage arm of Bayly, Martin & Fay of Fort Worth, Texas, the nation's number 10 broker. RBH's parent, Aon Corp., a Chicago-based insurance holding company, reports that Rollins Burdick Hunter has solidified an agreement to acquire Bayly, Martin & Fay's retail insurance brokerage operation as well as "selected other insurance businesses of BMF." Terms of the transaction have not been revealed.
RBH's chairman and chief executive officer, Arthur Quern, said that BMF's regional presence makes its branch offices a "good geographical fit" for RBH, while its specialization in the hotel, gaming and entertainment industries makes...
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