Robert Clements, Founder Of Arch, Integro, Ironshore, Dies At 77

He also founded MMC's private equity business, MMC Capital Inc., and served as its chief executive officer until 1996. Prior to that, he was responsible for Marsh's worldwide insurance broking operations for many years.

Mr. Clements was non-executive chairman of Island Heritage Insurance Company and a director of Riskclick Ltd., as well as a former director of ACE Ltd, Arch, Mid Ocean Limited, Hiscox PLC and XL Capital Ltd.

He was chairman of the Risk Foundation; chairman emeritus of the College of Insurance; former chairman of the board of overseers of the School of Risk Management at St. John's University; and an overseer emeritus of the Institute for Civil Justice.

Mr. Clements served the U.S. government as a member of its Services Policy Advisory Committee and of the President's Advisory Commission on Product Liability. He was the recipient of the Free Enterprise Award in 1987.

Born in Chicago, Mr. Clements attended Dartmouth College, graduating in 1954. He served in the U.S. Army and was stationed in Fort Bliss in El Paso, Texas.

Mr. Clements and his family established the Robert Clements Professorship of Democracy and Politics at Dartmouth College. They also helped to fund various programs such as Bill Moyers' Journal on public television and other education, environmental and public affairs efforts.

In a statement, Integro said Mr. Clements was recognized as a visionary and revolutionized global insurance markets by repeatedly introducing innovation, capacity and competition.

"Bob Clements had a legendary career, immense impact on the insurance industry, and was a mentor to many of us in it," said Integro President and Chief Executive Officer Peter Garvey. "Bob was a force of nature, and his vision of what a brokerage firm could be initially attracted me and many of my colleagues to Integro. His impact will be felt for years to come and we will miss him greatly."

Kevin Kelley, chairman and CEO of Ironshore, said: "It was Bob's foresight and respected reputation that drove the formation of Ironshore. His innovative approach to international business and leadership qualities have greatly fueled the evolutionary expansion of the global insurance landscape and Ironshore's place in it."

He added that Mr. Clements' contributions to the industry "will continue to resonate throughout international markets now and in the future."

Dinos Iordanou, chairman and CEO of Arch Capital, said in a statement, "We are deeply saddened by the passing of Bob Clements, founder of our company. He was a visionary and will leave behind a strong legacy in our industry."

Brian Duperreault, president and CEO of MMC, released a statement saying, "Bob Clements was a giant of the global insurance industry. From his time as president of MMC, he went on to play a leading role in the foundation of the Bermuda insurance market. Our industry, and our clients, owe him a huge debt of gratitude. Our thoughts and prayers are with his family."

Mr. Clements is survived by his wife of 55 years, Marilyn, his four children: Paula Sager of Providence, R.I.; John Clements of Southport, Conn.; Jeff Clements of Concord, Mass., and Ben Clements of Newton, Mass.; as well as their four spouses and his twelve grandchildren.

In lieu of flowers, donations may be made to Long Island Sound–Soundkeeper or Partners in Health.