London, 13 November 2015 – Cooper Gay Swett & Crawford (“CGSC”), the global wholesale, underwriting management and reinsurance broking group, today announces that, following a strategic review of its group businesses, the Company will pursue a sale of its North American business unit (CGSC North America).
CGSC North America, led by CEO Tom Ruggieri, consists of the wholesale broker Swett & Crawford, specialty managing general agencies including J.H. Blades & Co and Creechurch International Underwriters, and a US reinsurance broker.
The divestiture will exclude the Miami hub office for Cooper Gay’s Latin American operation which will remain within the CGSC International business.
Steve Hearn, Chief Executive Officer of CGSC, said: “We believe this transaction will best serve the long-term interest of our clients, employees and shareholders.”
The group has engaged Perella Weinberg Partners LP to conduct the divestiture process. No further comment will be made until the process is concluded.
About Cooper Gay Swett & Crawford
Cooper Gay Swett & Crawford (CGSC) is one of the world’s largest independent global wholesale, reinsurance and specialty lines broking groups and managing general agents. The Group has a network of 60 offices across the Americas, Europe, Asia and Australasia, employing over 1,500 skilled professionals. www.cg-sc.com
For more information on Perella Weinberg Partners LP, please visit www.pwpartners.com
Cooper Gay Swett & Crawford
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