Newest E&S Broker Keating at Home in New England

I always wanted to return here,” Jim Keating says.

“Here” is the Northeast, more specifically Atlantic Avenue in Boston, overlooking Boston harbor, where Keating has set up shop as The Keating Group to become the region’s newest excess and surplus lines wholesaler.

Keating is excited about being back in New England after years in the wholesale business in Phoenix and Dallas. Here he can deal more directly with the health concerns of those closest to him, rekindle memories of growing up in southeastern Massachusetts, and keep tabs on beloved family members scattered about New England.

He can also put into operation lessons learned from his years at All Risks, American Equity, General Star and General Re, not to mention his law degree from the University of Texas.

The fact that the market is softening, making this perhaps not the best time to start a new E&S operation, doesn’t worry Keating.

“Sure, it might have been better in some ways two or two-and-one-half years ago due to the market cycle, but there is plenty of business out there. The lack of a hard market has not deterred me,” Keating says.

“I am taking a long-term view,” says the newest Boston broker, maintaining that this is the only way to succeed, especially in this region which is rich in independent agents who, Keating stresses, value tradition and loyalty.

“You cannot have a short term perspective,” he insists. “Your word has to be good. You have to take a long-term approach to succeed in the business around here.”

Keating says he decided to return to the New England area to be closer to his family last fall. As soon as he moored in Boston harbor last October, Keating began his hunt for markets. His previous experience and contacts have already translated into products for professional and general liability and property risks. His general liability offerings cover Manufacturers and Distributors, Owners, Landlords & Tenants, and Contractors; his property markets serve Industrial, Habitational, Mercantile, Lessor’s Risk and Vacant Properties; and his professional E&S coverages are for Nursing Homes, Assisted Living Facilities, Doctors, Lawyers, Architects & Engineers. He also has a market for miscellaneous professional liability risks.

He hopes he can parlay his early success attracting markets along with his friendliness and service into new relationships with the region’s independent agents.

“A lot of it starting out is having built relationships and then going out and selling your vision for your operation,” Keating says of the first days calling on agents and building his own operation.

Keating is respectful of the region’s retail agents and their existing relationships with wholesalers. “I appreciate that agents here are loyal,” says the returning Bay Stater.

“I also think there is plenty of business and if I can deliver for the agents, I will earn some of that loyalty.”

Despite the softening of the market in some areas, there are advantages to starting a wholesaler now, according to Keating. One of the biggest pluses concerns technology. “I don’t have to integrate old with new technology,” he says, pointing to his shiny computer. “I can take the best of what is available now.” Keating Group is largely web-based in its technology and interface with markets and agencies.

Another advantage, he maintains, is being able to build the staff he wants rather than working with an inherited one. He admits that this is not all good. Because he is unknown, he has had to put considerable effort into attracting the right people.

“It takes time. But I’d rather get the right people in the right positions and then get out of their way and let them do their jobs,” he says, revealing a bit of his management style.

After six months, Keating is pleased with the reception he has gotten from agents and with the business he has already received. He thinks he is on track to achieve his goal so that in the years ahead, not only will the financials be impressive, but also retail agents, when asked about The Keating Group, will say, “That’s a good shop. They have integrity.”

That goal is actually modest compared to what Keating says is his ultimate mission: to become the premier wholesaler in the Northeast.