Brown & Brown Opens First Overseas Office

Brown & Brown announced yesterday that the insurance brokerage is opening its first overseas office, Decus Insurance Brokers Limited in London.

The office, which began operation March 1, will act as a traditional insurance broker for the placement of U.S. risk overseas, the company said.

Decus will be comprised of four divisions--property brokerage, casualty brokerage, professional liability brokerage and binding authority programs, said the Daytona Beach, Fla.-based brokerage.

Brown & Brown's new outlet will be headed by Anthony T. "Tony" Strianese, named chief executive officer; Amy C. Ranieri, named chief operating officer; and Melanie Y. "Mel" Alexander, named managing director.

Both Mr. Strianese and Ms. Ranieri are currently senior members of the North American team of Peachtree Special Risk Brokers LLC, a wholesale brokerage operation founded with Brown & Brown in 2000. The operation produces over $20 million in annual net commission revenues, the broker said.

"We view everything we do as a marathon rather than a sprint," said Mr. Strianese in a statement on the formation of Decus. "We have a long-term vision for this venture, and are ready to begin operations and build a solid foundation for future growth. It's a very exciting opportunity for Brown & Brown, our customers and our business partners."

Cory Walker, Brown & Brown's chief financial officer, told National Underwriter that the operation will start small with a focus on placing insurance for bank loan portfolios, something Ms. Alexander is a specialist in. The placements will be with Lloyd's and other European insures, he said.

The intention is to gradually build the business into other lines, he said.

"We're dipping our toe into this," said Mr. Walker.

Joining Ms. Alexander are Chris Hatt, Trevor Larwood, Richard Bowers and Catriona McKay, all of whom come over to the operation from Gallagher Re. Mr. Walker said their joining Decus was an amicable arrangement made with insurance broker Arthur J. Gallagher.

A deal was recently struck to sell Gallagher Re to Chicago-based insurance broker Aon. While the sale of the United States unit is complete, the United Kingdom portion of the deal is not and is expected to be completed by April 30.