Wholesale insurance broker Swett & Crawford Brasil has acquired a 51 percent stake in wholesale broker Casa do Corretor.
The broker, which operates in the state of Goiás and the Distrito Federal in Brazil, handles R$40 million (approximately $13 million) of premium each year through 200 independent brokers.
This follows the January 2014 acquisition of JLD in São Paulo, ACMS in Belo Horizonte and most recently the partnership with GC do 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,” said Renner Fidelis, who along with the remaining partners continues to be in charge of the local operations for Casa do Corretor.
Fábio Basilone, CGSC’s chief operating officer for Brasil, added: “We welcome the whole team at Casa do Corretor to the CGSC family and look forward to placing the uninsured risks in these new regions of Brasil and helping their economic growth.”