Wholesale insurance broker Swett & Crawford said it has acquired Oxbridge Insurance Associates Inc. Financial terms were not released.
Atlanta-based Swett & Crawford said Oxbridge, founded in 1991, is a property-casualty wholesale broker and managing general agent writing specialty classes of business on a nationwide basis.
Specialty lines written by Oxbridge include programs for the major professional sports leagues and an exclusive nationwide crane facility. Oxbridge also offers brokerage services for the transportation industry, with a focus on the motor coach, school bus and limousine industries.
Oxbridge, located in Morristown, N.J., employs 22 people and produces a premium volume of $75 million annually, a spokeswoman said.
J. Neal Abernathy, president and chief executive officer of Swett & Crawford, said, "Our partnership with Oxbridge is reflective of our strategy to continually bring the best talent, knowledge, product offerings and market access to our clients.
"Additionally, Oxbridge further augments Swett's strong position in the Northeast and broadens our overall portfolio of more specialized lines of business."
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.