On Sept. 1, Hugh B. McGowan will pass the torch of his insurance agency to his son, Hugh M. McGowan.
The elder McGowan, 66, who has been president of the firm for 33 years, will become chairman.
McGowan Insurance Group Inc. is the 21st-largest insurance agency in the Indianapolis area, according to the IBJ Book of Lists. In 2009, it wrote premiums of $50 million in such areas as commercial insurance, employee benefits, risk management and claims management.
McGowan Insurance was founded in 1930 by William McGowan, who led it until his death in 1977. At that time, the firm had only four employees and wrote $1 million in premiums.
The firm now employs 31 at its offices at 10 W. Market St.
Hugh M. McGowan, 39, joined the family business in 1995, two years after graduating from the University of Notre Dame. He was made a senior vice president in 1998 and served most recently as McGowan’s sales manager.
Hugh M. McGowan is president of the Notre Dame Club of Indianapolis—a position formerly held by his father.