Cooper Gay Swett & Crawford (CGSC) subsidiary J.H. Blades & Co has acquired Burke-Daniels Co. (BDI), an insurance broker in the oil and gas industry.
Terms of the deal have not been disclosed.
J.H. Blades & Co CEO Richard Martin said: "We source nearly 20% of the US-based upstream oil and gas premium at Lloyd’s each year via long-established contracts placed by London brokers including CGNMB.
"We have additional contracts in place in the US and, with the open market contacts introduced by the Burke-Daniels team, our retailers can now access 95% of the relevant capacity in the market."
The deal will place J.H. Blades in around $250m of property, control of well and casualty premiums through contract and open brokerage into the US and London markets each year, noted Swett & Crawford.
BDI president Bob Daniels will join J.H. Blades as executive vice president, and will look after the CGSC North America’s energy practice group.
According to Swett & Crawford , BDI team has started moving into the J.H. Blades offices in Houston of Texas.
CGSC is the independent global wholesale and reinsurance broking group, which has 60 offices across the Americas, Europe, Asia, and Australasia.