In an expansion of its specialized program business, Swett & Crawford has acquired the assets of Griffin, Georgia -based Southern Hospitality Underwriters Inc. (SHU), a regional firm specializing in business insurance for the limited service hotel/motel space.
SHU, founded in 1998, placed approximately $14.5 million in premium for 2012. The Georgia firm also currently places coverage on a brokerage basis for independent and assisted living facilities.
The acquisition closed Jan. 31, 2013.
Brad Brown, president and founder of SHU, moves to Swett & Crawford to become the program’s sales Leader. Brown has more than 20 years of experience in property and casualty insurance.
J. Neal Abernathy, president and CEO of Swett & Crawford, said the firm expects to be able to build on what SHU has achieved.
“While their current reach is primarily in the Southeast, we see the potential for a broader geographic rollout, especially given the large number of limited service hospitality properties throughout the United States,” Abernathy said. “We also see the potential to add additional products to the program, particularly professional lines and workers’ compensation.”