Business Moves

Towerstone

Towerstone Inc., a wholesale insurance broker and managing general agency with extensive experience in a broad spectrum of industries, has been formed via the merger of Energy Risk Associates Inc. (ERA) with the recently acquired assets and employees of R.A. Stough LLC, d/b/a PWIB Texas.

ERA was founded in 1997 as a wholesale insurance broker specializing in the energy industry. PWIB Texas has been a wholesale broker/managing general agency since 2004.

Robin A. Stough, president of Towerstone, has more than 30 years of experience in the insurance industry. Stough launched his insurance career in 1977 as an underwriter with American International Group. Prior to joining Towerstone, Stough was president of PWIB Texas, and is currently a director for the Texas Surplus Lines Association.

Steven “Pat” Ashcraft, executive vice president and Energy Practice director, will lead Towerstone’s energy division. Ashcraft has specialized in the placement of insurance for the energy industry since 1980. He has extensive knowledge of the oil and gas exploration and production business, which enabled ERA to become a premier broker for the energy industry.

Ashcraft also has significant knowledge of mid-stream oil and gas field operations including natural gas pipeline and transmission operations, pipeline and plant compression operations, natural gas treating and natural gas liquids production. He has been a Lloyds of London coverholder for well control and property risks since 1985.

Towerstone has offices in Dallas and San Antonio, Texas.

AIG Property Casualty Group

American International Group Inc. renamed its Domestic General Insurance operations the AIG Property Casualty Group. The new AIG Property Casualty Group will include the AIG Domestic Brokerage Group companies, now known as AIG Commercial Insurance Group, as well as the AIG Domestic Personal Lines companies, United Guaranty Corp., and The Hartford Steam Boiler Inspection and Insurance Co.

AIG Executive Vice President Kristian P. Moor has been named president and chief executive officer of the new AIG Property Casualty Group. Previously president and CEO of the Domestic Brokerage Group, Moor is also a member of the AIG Group Executive Committee.

Kevin H. Kelley, chairman and CEO of AIG’s Lexington Insurance Co., was named executive vice president of AIG Property Casualty Group and president of AIG Domestic Personal Lines. He retains his posts at Lexington.

John Q. Doyle, president and CEO of AIG Executive Liability and AIG’s American Home Assurance Co., was appointed executive vice president of AIG Property Casualty Group, and president of the new AIG Commercial Insurance Group, reporting to Moor. Doyle was named president and CEO of AIG Executive Liability and elected AIG senior vice president, Domestic General Insurance in 2006.

Topics Texas AIG