Agency Management

Most reinsurers have far more capital than a year ago, capacity is abundant, but problems lie ahead for the marketplace, Holborn reinsurance brokerage predicted.

Insurance agencies can expect to receive less carrier compensation in the future as companies reassess their payment arrangements and require more business from them.

Jim W. Henderson, Brown & Brown's vice chairman and chief operating officer, will retire later this year, the firm said, also announcing its first acquisition for 2010.

Hub International Ltd. said the brokerage has acquired Santa Barbara, Calif.-based Ogilvy, Gilbert, Norris & Hill and the insurance book of Wescom Credit Union in Anaheim, Calif. No financial terms for either transaction were released.

Aon Corp. insurance brokerage said it has named attorney Mark Herrmann chief counsel of litigation and vice president.

The Young Insurance Professionals associations in Connecticut, New Jersey and New York states affiliated with the Professional Insurance Agents have a new Web site.