Wholesale insurance broker Swett & Crawford has acquired the assets of Oxbridge Insurance Associates, Inc., located in Morristown, New Jersey. The venture marks Swett & Crawford’s first acquisition since the company was sold by Aon Corp. to an investment group in November 2005.
Founded in 1991, Oxbridge is a property and casualty wholesale broker and managing general agent writing more than $75 million in specialty classes of business on a nationwide basis. Specialty lines written by Oxbridge include programs for the major professional sports leagues and an exclusive nationwide crane facility. Oxbridge also offers brokerage services for the transportation industry, with a focus on the motor coach, school bus and limousine industries.
J. Neal Abernathy, president and chief executive officer of Swett & Crawford, said the acquisition “further augments Swett’s strong position in the Northeast and broadens our overall portfolio of more specialized lines of business.”
Swett & Crawford, headquartered in Atlanta, Georgia, is owned by its employees and two private equity firms, HM Capital Partners and Banc of America Capital Investors.
Source: Swett & Crawford