American Wholesale Buys Crump Unit

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By Mark E. Ruquet

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NU Online News Service, May 6, 4:10 p.m. EDT ?American Wholesale Insurance Group has purchased Crump's New Jerseywholesale brokerage operation from its parent, New York-basedMarsh, it was announced.

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Terms of the sale were not revealed. American Wholesale said itwas forming a new wholesale brokerage operation in New Jersey Noneof the other assets of Marsh's Crump offices were involved in thesale.

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The new operation, based in Iselin, N.J., will be headed byChuck Ciccarelli and Bill Dixon, said American Wholesale.

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"Increasing our capabilities in the greater northeasternmarketplace has always been part of the planned expansion for ourbrokerage division," said Steven DiCarlo, the firm's president andchief executive officer.

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American Wholesale, headquartered in Charlotte, N.C., is awholesale insurance organization writing more than $1 billion ininsurance premium annually.

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