J.H. Blades & Co., Inc. has bought rival wholesale broker Burke-Daniels Co. Inc. Terms of the deal were not disclosed.
Part of Cooper Gay Swett & Crawford (CGSC), one of the world's largest independent global wholesale, underwriting management and reinsurance broking groups, J.H. Blades will now place in excess of $250m of property, control of well and casualty premiums via contract and open brokerage into the US and London markets each year.
Richard Martin, CEO of J.H. Blades 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.'