Business Services Industry
New wholesaler says teamwork is key hallmark.(News)
Business Insurance, January, 2006
Byline: SALLY ROBERTS NEW YORK-A newly formed independent insurance wholesaler is banking on a novel approach and two veteran retail insurance brokerage executives for its success. Greenwich, Conn.-based private equity firm Stone Point Capital L.L.C. earlier this month launched New York-based wholesaler Mercator Risk Services Inc.
with $20 million in capital. Stone Point's Trident III L.P. private equity fund is the lead investor in Mercator, along with the wholesaler's founding management team, which includes veteran insurance brokerage executives John Addeo, who is Mercator's chairman, and Christopher M. Treanor, president and chief executive officer. Mr. Addeo, formerly CEO of Alliant Resources Group Inc., had a friendly parting with the Stamford,...
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