WNCFIRST

A managing general underwriter of specialty insurance products

OVERVIEW

We identified WNCFirst Insurance Services in 2004 through a CEO1ST project with Dick Riley and Rob Goss, previously CEO and CFO respectively of Aon’s North American insurance brokerage business. The company had been family-run, almost uninterrupted, for 30 years.

The founder and principal owner, Carl Herrmann, Jr., wanted to maintain family involvement while augmenting his leadership team. He was also eager to diversify his personal assets and create liquidity for estate planning purposes.

We addressed these needs, crafting a transaction whereby the Herrmanns sold a majority interest but retained meaningful ownership. Dick and Rob teamed up with Carl and his son, who remained in significant management roles, and with Bill Keeler, who subsequently became President and CEO. Together they have greatly expanded the profitability and scope of WNC.