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Daily Insurance Industry News
Monday 15th of October 2018
July 11, 2010

Cooper Gay Swett & Crawford merger completed

by Gill Montia

Story link: Cooper Gay Swett & Crawford merger completed

The world’s largest independent global wholesale and reinsurance broker has been created, following the completion of the merger of US independent wholesale broker, Swett & Crawford, and Cooper Gay, the London-based wholesale, reinsurance and specialist retail insurance broker.

The companies have come together under a new group holding company, Cooper Gay Swett & Crawford Ltd.

The enlarged group will place approximately $3.5 billion in premiums and employ over 1,500 staff in 60-plus offices across four continents.

Toby Esser has been named group chief executive and J Neal Abernathy will continue as president & chief executive of Swett & Crawford, with all the group’s operations in North America reporting to him.

Cooper Gay’s offices outside North America and all Swett & Crawford business units will continue to trade as before, keeping their existing branding and management teams.

Commenting on the merger, Mr Esser says: “By bringing together the resources of Cooper Gay and Swett & Crawford under common ownership, we have not only created the world’s largest truly global independent wholesale and reinsurance broker, but have also created an exceptional team with the experience and skills to deliver market leading service to our clients.”

He adds: “Our enhanced scale and broad product range will also act as a springboard for future growth and development.”

 

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