Broker expands in Brazil with acquisition
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London-based broker Cooper Gay Swett & Crawford's Brazil-based unit, Swett & Crawford Brasil, announced Tuesday it purchased 51% of the shares of broker Casa do Corretor based in the state of Goiás and the Federal District.
Casa do Corretor handles 40 million Brazilian Reales ($12.8 million) of premium each year through 200 independent brokers. This acquisition follows Swett & Crawford Brasil's 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, and 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,” Renner Fidelis, who along with the remaining partners continues to be in charge of the local operations for Casa do Corretor, said in Tuesday's statement.
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