Cooper Gay Swett & Crawford is putting its North American business up for sale, the reinsurance broker disclosed on Nov. 13.
Specifically, potential buyers will be sought out for CSGC North America and its parts: the wholesale broker Swett & Crawford, specialty managing general agencies including J.H. Blades & Co. and Creechurch International Underwriters, and also a U.S. reinsurance broker.
Perella Weinberg Partners LP will handle the sale, CGSC said.
CGSC CEO Steve Hearn explained in prepared remarks that divestiture “will best serve the long-term interests of our clients, employees and shareholders.”
One exception to the divestiture: the Miami hub office for Cooper Gay’s Latin American operation, which will stay with the company within its CGSC International business.
Cooper Gay said it will make no further comment until the sale process is completed.
Source: Cooper Gay Swett & Crawford