First Mercury Financial Corporation · Southfield, MI United States ·(NYSE: FMR)
Company Description
Phone: 248-358-4010
Fax: 248-358-2459
Toll Free: 800-762-6837
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This link will open in a new window First Mercury Financial Corporation (FMFC) would like to take after its namesake, the Roman god of commerce and profit, by capitalizing on its expertise in niche insurance markets. Through its CoverX wholesale brokerage, the company underwrites general and professional liability policies for businesses, with a special focus on the security industry -- private investigators, security guards, armored car units, and the like. It has also formed a special general liability unit that insures small to midsized builders, oil and gas contractors, and apartment building owners, among others. To read the full description, subscribe now.
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Key First Mercury Financial Corporation Financials
| Company Type | Public - NYSE: FMR Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $215.7 |
| 2008 Employees | 338 |
First Mercury Financial Corporation Executives
14 executives listed for First Mercury Financial Corporation's Southfield, MI location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO | Richard Smith | Network |
| EVP, CFO, and Secretary | John Marazza | Network |
| EVP and Chief Underwriting Officer | E. Edward Camp | Network |
Competition
Competitive Landscape for First Mercury Financial Corporation
Demand is related to consumer income and commercial business activity. When the economy grows, so does the demand for personal and business insurance. When the economy contracts, as it did in the late 2000s, demand for insurance falls. The profitability of individual agencies depends on effective marketing, client referrals, and customer service. Large agencies have advantages in name recognition, connections with more insurers, and the ability to craft more complex insurance packages. Although small agencies formerly competed by specializing in a specific product line, they are increasingly diversifying to build business. Average annual revenue per employee is around $200,000. To read the full description, subscribe now.Top First Mercury Financial Corporation Competitors
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