Wholesale insurer Shand Morahan & Company Inc., based inDeerfield, Ill., said it has acquired Burlington, Vt.-basedspecialty insurer Cambridge Alliance. Terms of the deal were notreleased.

Shand Morahan is a subsidiary of Richmond, Va.-based MarkelCorporation, an insurance holding company.

Cambridge Alliance will place business with the EvanstonInsurance Company in all states except Illinois and New Hampshire,where business will be placed with the Essex Insurance Company.

A company representative said by e-mail that the nine-memberCambridge Alliance, which wrote $10 million in premium, will remainat its current location.

Mike Rozenberg, president and chief operating officer of ShandMorahan, said in a statement, “We believe this move will enhanceour professional liability portfolio by adding investment advisorswith a recognized, quality specialist–Cambridge Alliance.”

He added that the move “is intended to complement ourestablished focus on professional liability and expand our offeringin the financial services arena.”