Insurance company hires division president
A local insurance company has named a new president for one of its divisions.
Caledonia-based Acrisure said last week it hired William Malloy to oversee its specialty division.
Acrisure partners with other agencies across the U.S. to offer a broader range of specialty insurance and risk management strategies.
“The specialty division is one of the largest organic growth initiatives Acrisure has pursued in our 13-year history,” said Greg Williams, president and CEO, Acrisure. “I’m very excited about working with Bill, and I’m pleased we have a person with Bill’s business acumen and industry experience leading this strategic initiative.”
Malloy will focus on “leveraging Acrisure’s proprietary technology, distribution and intellectual resources” to deliver “valuable products to agency partners and their respective clients.”
Malloy said the opportunity to work at Acrisure was “too compelling to overlook.”
“I am excited to harness the power of the enormous retail engine that exists at Acrisure through all our agency partners,” Malloy said. “Working closely with key markets and our reinsurance division, we will further accelerate our market-leading growth.”
Previously, Malloy spent more than a decade with New York-based AIG, where he held various executive positions in the U.S. and Europe.
In 1995, he joined Marsh, where he was CEO of the U.K. and Europe division and eventually became worldwide president in 2004.
In 2007, he joined the investment firm Aquiline Capital Partners as an operating partner, where he served in multiple chair and CEO roles throughout his tenure.
Founded in 2005, Acrisure is a retail consulting and insurance broker offering property and casualty, employee benefits, loss and claims management, surety bonding and personal lines solutions.
The company employs 5,200 people and works with 300 agency partners with a presence in 32 states and seven international locations.
Acrisure had about $1.2 billion in 2017 revenue.