Crum & Forster said Marc Adee has been named CEO of First Mercury Financial Corp. and CoverX Corp., reporting to Doug Libby, chairman and CEO. Reporting to Marc Adee will be Tom Bredahl, who recently joined First Mercury Insurance Co. as chief underwriting officer from Odyssey Re, a sister company within the Fairfax organization, which Crum & Forster is a part of.
Adee continues as president of Fairmont Specialty, an operating unit of the Crum & Forster Enterprise that offers products such as specialty P&C coverage, accident and health programs, commercial and personal lines in Hawaii, and bail sureties, Crum & Forster Enterprise (C&F) said.
Richard Smith will retire as CEO of the company, C&F said. Smith grew First Mercury through acquisitions. In 2011, C&F acquired First Mercury, and Smith led the integration of Crum & Forster Specialty and First Mercury into the current Cover X organization.
First Mercury Financial Corp. (FMFC) and CoverX are operating units of the Crum & Forster Enterprise. The two companies offer services through First Mercury Insurance Co., a specialty liability insurer, and CoverXSpecialty, a specialty lines producer. Crum & Forster Enterprise is part of Fairfax Financial Holdings.
