COOPER GAY REPORTS POST MERGER FIGURES

The broker to emerge from the merger of Cooper Gay and Swett & Crawford in July has posted proforma revenues of $340m. Cooper Gay Swett & Crawford also reported operating profits of $68m - before depreciation, amortisation and impairment and excluding exceptional items. The privately owned wholesale broker, which places insurance premiums of some $3.5bn in the London market, also announced that it has increased its holding Mexican reinsurance broker Cooper Gay Martinez del Rio to 100%. The company continues to grow in emerging markets, most notably Latin America and Asia, which has offset the tough trading and economic conditions in mature markets, said Toby Esser, the group chief executive. The company will now focus on growing organically and through acquisition, he added.