Arbella Insurance Group’s Leadership Transition
Arbella Insurance Group is undergoing a significant leadership change as cofounder John Donohue steps down as CEO on May 31. Donohue will continue to chair the company’s board and remain involved in its charitable work. Executive Vice President Paul Brady will take over as CEO, succeeding Donohue after 12 years of collaboration. Arbella has grown substantially under Donohue’s leadership, from $200 million in premiums to $1.2 billion across four New England states.
The transition comes after the death of cofounder Frank Bellotti in December at age 101. Donohue and Bellotti founded Arbella in 1988, and despite initial skepticism, the company succeeded by acquiring smaller insurers and adapting to market changes. Arbella remains committed to its independent agent model, valuing the guidance agents provide to customers.
Fan Pier Development Update
The Fallon Co. celebrated a topping-off ceremony for its 122-condo tower at Fan Pier, marking a significant milestone in the development. The project, dubbed ‘One Harbor Shore,’ will feature electric heat with gas-fired boilers as backup. Fan Pier’s redevelopment, sparked by Vertex Pharmaceuticals’ move from Cambridge, has been a catalyst for the Seaport’s growth.
Boston Pride Fundraising Success
Boston Pride for the People is on track to meet its fundraising goal, despite some national sponsors pulling back due to economic uncertainties and anti-DEI rhetoric. Major sponsors include Delta Air Lines, MFS Investment Management, and MassMutual. The event is expected to raise around $700,000, similar to last year’s total.
US Chamber’s Message to Boston Business Leaders
US Chamber of Commerce CEO Suzanne Clark advised Boston business leaders to be more welcoming to outsiders, particularly those with different viewpoints. Clark’s comments came during the Greater Boston Chamber of Commerce’s annual meeting, where she also praised Boston’s innovation ecosystem.
