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WFG Capital Advisors Announces that Swett & Crawford has Acquired Oxbridge Insurance Associates, Inc.HARRISBURG, PA -- (BUSINESS WIRE) -- January 9, 2006 – WFG Capital Advisors announces that Swett & Crawford has acquired the assets of Oxbridge Insurance Associates, Inc. (Oxbridge), located in Morristown, New Jersey.
Founded in 1991, Oxbridge is a property and casualty wholesale broker and managing general agent that writes 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.
WFG Capital Advisors of Harrisburg, Pennsylvania served as a financial advisor to Oxbridge Insurance Associates, Inc. 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," he continued, "Oxbridge further augments Swett's strong position in the Northeast and broadens our overall portfolio of more specialized lines of business."
"Through our Practice Group alignment and broad market access," he explained, "we will be able to assist Oxbridge to further expand its products offerings, client base and market relationships, all key components in their continued growth."
Michael Georgaros, one of the Oxbridge founders, commented, "By joining Swett & Crawford, we anticipate expanding our current products in traditional lines and achieving greater penetration in the specialty segments that we've successfully developed over the past 15 years."
David Folkes, another Oxbridge founder, stated, "In this process, we sought out a partner who could offer expanded market resources and stability for our clients, both of which support Oxbridge's goal of providing comprehensive coverage solutions and client-centric support for every account. Strong carrier relationships have always been paramount to Oxbridge's success. Swett & Crawford shares our strategy and will greatly enhance our efforts in servicing and developing both current and new markets. We firmly believe the partnership with Swett & Crawford will offer Oxbridge and its employees the best opportunity for continued success."
Kyle Chapman, Vice President and Director of Business Development of Swett & Crawford, explained, "Oxbridge represents an ideal transaction for Swett - a company led by a top tier management team with a service-oriented culture, loyal client base and entrenched market relationships. This transaction demonstrates our strategy to complement organic growth initiatives with acquisitions of high quality companies operating in specialized lines, and to which Swett & Crawford, through its broad relationships and depth of product lines, will add value."
About WFG Capital Advisors LP WFG Capital Advisors, a PA-based investment banking firm specializing in the insurance industry, served as a financial advisor to Oxbridge Insurance Associates, Inc. Media Contacts: |
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© Copyright 2007 WFG Capital Advisors LP. |
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