First Niagara Risk Management Inc., the insurance subsidiary of First Niagara Financial Group Inc., has moved into 58th place among the 100 largest agencies and brokerages in the U.S., according to the most recent rankings from Business Insurance Magazine.
Up a spot from last year, First Niagara’s move was based on a 5.5 percent increase in revenues $44.1 million to $46.2 million from 2006 to 2007. A statement from First Niagara said the growth was built on a 58.8 percent revenue increase registered from 2005 to 2006 that was the result of a mix of strategic acquisitions and increased business relationships.
Picked for the list for the third straight year, First Niagara’s selection is part of the 37th annual rankings of agencies and brokerages by Business Insurance. Business Insurance is a weekly publication for business executives who are responsible for the purchase and administration of corporate insurance and self insurance programs.
“Agents and brokers of all sizes are facing challenging market conditions. First Niagara Risk Management's rise in Business Insurance’s annual ranking of the 100 largest brokers of U.S. business reflects First Niagara's ability to continue growing. Agencies and brokerages that concentrate their efforts on serving their customers inevitably are the most successful at achieving sustainable growth, as First Niagara is doing,” said Regis Coccia, editor of Business Insurance.
Published since 1967, Business Insurance reaches a large audience of corporate decision-makers through weekly print and digital editions as well as through daily news and information online at www.BusinessInsurance.com.
News Refresh
September 8, 2008
MONDAY: First Niagara Risk Management among top 100 in Business Insurance rankings (1:27 p.m.)
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LAY OFFS: Seneca Gaming Corp. to cut 210 jobs
The struggling economy has evidently caught up with the local gaming industry.
The Seneca Gaming Corp. announced on Tuesday plans to lay off a total of 210 of the 4,800 employees who work at its casino operations in Niagara Falls, Buffalo and Salamanca. - MONDAY: Mets, Bisons set to announce affiliation deal New York Mets executives are in Buffalo to announce that the Triple A Bisons will be the major-league team’s top farm club.
- FRIDAY: Police, fire departments offer disaster training courses (3:13 p.m.) The Lockport police and fire departments are offering a free community emergency preparedness course.
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- FRIDAY: Ex-manager accused of theft from NY bowling group (9:58 p.m.) State police say a 54-year-old man stole as much as $200,000 from a state bowling association while serving as its manager.
- THURSDAY: AT&T expands 3G to NT (4:57 p.m.) AT&T Inc. is expanding its third-generation, or 3G, high speed wireless network many areas of Niarage and Erie counties.
- THURSDAY: Schumer to offer banks a deal (2:43 p.m.) Sen. Charles Schumer plans to offer a broad economic proposal for the government to offer a financial lifeline to those banks that are willing to renegotiate mortgages for those on the brink of losing their homes.
- THURSDAY: US woman killed in Yemen embassy attack (11:35 a.m.) The State Department has confirmed that a young American woman and her Yemeni husband were killed in a terrorist attack at the U.S. Embassy in Yemen.
- THURSDAY: Vegas detective tells of encountering O.J. Simpson (11:24 p.m.) When police detective Andy Caldwell heard that O.J. Simpson was a suspect in a robbery, he said he couldn’t believe it.
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LAY OFFS: Seneca Gaming Corp. to cut 210 jobs
The struggling economy has evidently caught up with the local gaming industry.
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