CGSC announces plan to sell North American business
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.
First of its kind service for the US energy market combines with existing Kick Assistance Program to prevent costly major blowout and environmental impact claims through early intervention and simultaneous response
Houston, 8 April, 2015 – J.H. Blades & Co. Inc. (www.jhblades.com), the leading US upstream oil and gas energy Managing General Agent (MGA), along with the Swett & Crawford Dallas Energy team and the recently-acquired Burke Daniels Inc., have joined forces with Wild Well Control Inc. to launch the first early intervention pollution control and mitigation program for the US energy market.
The rapid response team is now available exclusively to Blades policyholders via the Berkley Gemini contract or via Contract 400. It is an addition to the Kick Assistance Program (KAP), which is designed to utilize a range of early intervention techniques to minimize a well control incident and its environmental impact before it becomes a costly blowout.
In the event of an incident, Wild Well will now immediately dispatch a joint team of specialists to the scene for both well and pollution control at the source in the hot zone.
Brian Krause, a veteran well control specialist on staff at J.H. Blades said: “We first partnered with Wild Well Control in 2012 to launch our KAP program and it has already prevented several very large losses. As a result we decided to extend the scope of our offering to cover pollution control and mitigation and, just like with KAP, the new service has premium incentives in place to reward an insured for using the program.
Bill Mahler, EVP & GM of Wild Well Control, which responds to the majority of all well control incidents globally, said: “Bringing a well back under control and dealing with any pollution issues can be very costly, but by deploying both a well control team and a pollution response team immediately upon notification, we can work in unison in an effort to minimize the size of the claim – both in terms of control of well and pollution mitigation. In addition to dealing with initial pollution containment, if required, we can also work with the assured, state and federal regulators and loss adjusters on any long-term remediation that might be required.”
Carol Randall, President of Berkley Oil & Gas said: “Our companies share a strong philosophy regarding safety of the oil and gas industry and we are excited to be part of an effort to pro-actively reduce losses impacting the environment, making the industry better.”
Swett & Crawford and JH Blades are wholly-owned subsidiaries of CGSC North America.
CGSC North America subsidiary J.H. Blades & Company recently announced the acquisition of Burke-Daniels Co., Inc. (BDI), one of the leading insurance brokers in the oil & gas market. Established in 1981, the experts of BDI will be joining the staff of J.H. Blades and will continue to specialize in the upstream, midstream, and downstream sectors of the oil and gas industry.
By merging forces, clients of BDI will now have access to premier professional lines and casualty products in the marketplace. J.H. Blades clients will also now be able to work directly with the combined team of professionals with over 500 years of combined wholesale energy insurance experience.
As President and Founder of BDI, Bob Daniels will be joining J.H. Blades as Executive Vice President. This acquisition is also a coming home story for Daniels who began his career with JH Blades in 1973. While studying at the University of Alabama, Daniels joined the Alabama Insurance Society where he met and befriended industry leader Joseph H. Blades. Daniels spent the next eight years with J.H. Blades before leaving to establish Burke Daniels Co., Inc.
CGSC North America and J.H. Blades welcome the clients and team of experts of BDI and look forward to working together.
Burke-Daniels Co., Inc. was advised by Cory Moulton.
About J.H. Blades & Co., Inc.
J. H. Blades & Co., Inc. (JHB) provides insurance products and services for energy-related risks. Operating as a coverholder and in-house underwriter, JHB underwrites, markets and places both onshore and offshore accounts of any size or complexity.
JHB Marine division focuses on underwriting marine property and liabilities for brown water business, both inland and offshore.
JHB also has an in-house Professional Liability broker that provides products for a wide range of industries.