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Cooper Gay Swett & Crawford buys Lloyd's brokerage

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London-based wholesale and reinsurance brokerage Cooper Gay Swett & Crawford Ltd. has acquired independent Lloyd’s of London insurance and reinsurance brokerage Newman Martin & Buchan L.L.P., Cooper Gay announced Monday.

Terms of the deal were not disclosed.

NMB specializes in energy, marine and nonmarine insurance and reinsurance business.

“The combination of Cooper Gay and NMB in London will create a real powerhouse among independent brokers,” said Toby Esser, group CEO of Cooper Gay, in a statement.