American Wholesale Buys Crump Unit
By Mark E. Ruquet
NU Online News Service, May 6, 4:10 p.m. EDT ? American Wholesale Insurance Group has purchased Crump's New Jersey wholesale brokerage operation from its parent, New York-based Marsh, it was announced.
Terms of the sale were not revealed. American Wholesale said it was forming a new wholesale brokerage operation in New Jersey None of the other assets of Marsh's Crump offices were involved in the sale.
The new operation, based in Iselin, N.J., will be headed by Chuck Ciccarelli and Bill Dixon, said American Wholesale.
"Increasing our capabilities in the greater northeastern marketplace has always been part of the planned expansion for our brokerage division," said Steven DiCarlo, the firm's president and chief executive officer.
American Wholesale, headquartered in Charlotte, N.C., is a wholesale insurance organization writing more than $1 billion in insurance premium annually.
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