The Swett & Crawford Group history

Under pressure from the California Banking Department, he ultimately formed the Kaspare Cohn Commercial & Savings Bank in 1914.

At the behest of Swett & Crawford in 1915, Indemnify Company expanded its business to include automobile insurance, a product with rising demand as Henry Ford's affordable Model T began selling to the masses.

Subsequently, Pacific Indemnity Company and Security Insurance Company were merged and reorganized. It struck out on its own in 1921, forming Security Insurance Company of California and acting as the managing agent for the subsidiary, which in addition to automobile insurance offered personal, homeowner, and other small casualty insurance policies.

Swett & Crawford added more responsibilities in 1925 when it became the sole underwriting manager for Pacific Indemnity Company, a new Los Angeles-based company.

After the war ended in 1945 and the United States endured a brief recession, Swett & Crawford continued to pursue new lines of business as the United States in the postwar era embarked on an unprecedented period of economic growth.

In early 1957 Crawford and Swett sold the business to the firm's 160 staff members through a stock acquisition plan.

A holding company, Continental Corporation, was created in 1966 to house a host of acquisitions.

General agencies were also added, leading to the 1968 reorganization that resulted in St Paul Fire and Marine Insurance Company becoming The St Paul Companies, Inc.

Ownership also changed hands in April 1969 when Swett & Crawford was acquired for about $13.5 million in stock by Unionamerica, Inc.

In 1970 it formed a unit that took the name Unionamerica Reinsurance Company by acquiring an inactive New York firm, Buffalo Insurance Company, to become involved in treaty and facultative reinsurance.

In 1983 Continental elected to refocus its operations and put the wholesale insurance assets on the block.

All of these wholesale assets would then be brought together in 1985 under the umbrella of Swett & Crawford Group name.

Wojcik, Joanne, "Swett & Crawford Maintains Top Wholesale Spot," Business Insurance, August 16, 1993.

Aon was a fast-growing insurance company that had briefly enjoyed the distinction of being the world's largest insurance brokerage in 1996.

St Paul once again shifted its emphasis, electing to beef up its small to midsized commercial underwriting business while unloading the Minet Group, including Swett & Crawford, to Chicago-based Aon Corporation in May 1997.

The company also built up its business in the East and Southeast through the addition of the Bryson Associates' wholesale operations in 2000.