Swett & Crawford Brasil Expands with Purchase of Shares in Local Broker

Wholesale insurance broker Swett & Crawford Brasil, part of Cooper Gay Swett & Crawford (CGSC), the independent global wholesale, underwriting management and reinsurance broker, announced that it has purchased 51 percent of the shares of Casa do Corretor, a wholesale broker operating in the state of Goiás and the Distrito Federal.

“Casa do Corretor handles R$40 million (approximately US$ 13 million) of premium each year through 200 independent brokers,” said the announcement. “This acquisition follows the January 2014 acquisition of JLD in São Paulo, ACMS in Belo Horizonte, and, most recently, the partnership with GC do Brasil, a network with access to over 100 cities, mostly located in the South and Center-West regions of Brasil.”

“Goiás and Distrito Federal both have many industrial and agribusiness companies operating without proper insurance protection due to a lack of local markets,” said Renner Fidelis, who along with the remaining partners continues to be in charge of the local operations for Casa do Corretor. He added that joining the Swett & Crawford Brasil network “helps us find carriers in Brasil and via the parent company’s global network we can also aggregate risks and tap capacity in London.”

“We welcome the whole team at Casa do Corretor to the CGSC family and look forward to placing the uninsured risks in these new regions of Brasil and helping their economic growth,” said Fábio Basilone, CGSC’s Chief Operating Officer for Brasil.

Source: Cooper Gay Swett & Crawford (CGSC)

Topics Agencies