Howden Group, an independent multinational insurance brokerage group, continues to strengthen its position in Europe. Between December 2023 and early 2024 the group concluded four operations of acquisition in the insurance sector. In December Howden acquired Haakon Ag, Swiss reinsurance broker, North Risk, Danish insurance intermediary e Vlc & Partners Holding, one of the leading independent insurance brokers in the Netherlands. Finally, the acquisition of was completed on January 4th Arctic Insurance, a fast-growing Norwegian insurance broker.
Thus, in just one month, the Howden Group consolidated its position as the leading reinsurance broker in Switzerland, entered the Danish retail market, strengthened operations in the Netherlands, an important European insurance market, and extended its presence in the Nordic countries.
Four thousand employees and 130 offices in 22 countries
“With these new acquisitions the number total number of employees in Europe will exceed 4.000, with over 130 offices in 22 countries. Howden's ambition to relentlessly continue building the leading European broker for clients and talent, joining the best companies in different countries, is confirmed once again" commented the CEO of Howden Italia, Federico Casini.
“The acquisition of Vlc & Partners – he declared David Howden, founder and CEO of the group – is among the most significant we have carried out in continental Europe. Together with North in Denmark it demonstrates our ability to attract leading talent across all markets and clearly demonstrates our strategic commitment to the region; Now we are a scale operator in all major insurance markets in Europe".
The acquired companies
VLC & Partners, one of the leading independent insurance brokers in the Netherlands, offers services to medium-sized businesses, SMEs and High Net Worth Individuals. The transaction will add 500 employees and seven branches to Howden's existing operations in the Netherlands, consolidating its presence in the market.
North Risk, founded in 2021 by Polaris, a Danish private equity firm, was created through the acquisition and merger of four financial distribution and consultancy businesses. Currently, the company focuses onassistance to SMEs and their employees, offering corporate insurance solutions and financial services. The acquisition by Howden reflects its strategy to invest in local specialist expertise, leveraging the group's global capabilities, international network and data to benefit clients in local markets. Furthermore, this move completes Howden's presence in the Nordic region, which began over 20 years ago with the opening in Finland, followed by Sweden, Norway and Iceland.
Arctic Insurance, based in Oslo, was founded in 2014 with the support of Arctic Group, a leading financial services group. Specialized in the Property & Casualty, Financial Lines & Specialty, Employee Benefits and Pensions sectors, provides complex insurance solutions for a wide range of customers, including food, beverage, recycling, waste management, transport and finance sectors. Following the acquisition by Howden, Howden Norway now has 65 employees across two offices, moving closer to leadership in the local market.
Haakon Ag, formerly part of the Baloise Group with offices in Basel and Kuala Lumpur, brings with it 43 years of experience in providing streaty, facultative and complex reinsurance solutions to customers in Switzerland, Europe, Asia and the Middle East. Following the acquisition by Howden, the company will be able to benefit from Howden Tiger's reinsurance platform. This represents Howden's ninth acquisition in Switzerland in the last two years, further strengthening the group's position as a point of reference for independent brokers at national and European level.
What is the Howden Group
The Howden Group is one of the major global insurance brokerage groups, with approximately $35 billion in gross written premiums and 15 employees in 100 countries. The company was founded in 1994 by David Howden, current CEO of Howden Group Holdings.
Howden adopted a strategy focused on the acquisition of independent brokers of high reputation, which have a strong territorial presence and are able not only to distribute products, but above all to offer consultancy in business risk.
The group entered in Italy with its own branch in 2021 and has quickly become one of the major operators on the national market with over 110 million euros in consolidated turnover and 800 employees with a presence in 24 cities with 26 offices.
As of October 2023, Howden has consolidated all of its global operations under a single name and new brand. This rebranding also involved the Italian subsidiaries, which changed their company name. The new names include Howden Assimovie, Howden Assiteca, Howden Assiteca Agricoltura, Howden Assiteca Consulting and Howden Treviso. These joined the other companies in the Group, including Andrea Scagliarini, Howden Italia and Howden Vicenza.
