Howden Group Holdings, one of the largest groups in the world insurance brokerage, announced i financial results for the year ended September 2022.
For the second consecutive year registered a growth of 19%. The revenues they went up 60% with a EBITDA by 69%. The acquisitions, which took place mainly in Europe, changed the Group's position in key markets.
Who is Howden Group
Il Howden group is one of the largest groups in the world insurance brokerage, with approximately $30 billion in gross written premiums and 13 employees in 100 countries, 2.500 of which are in Europe.
The company was founded in 1994 by David Howden, current CEO of Howden Group Holdings, the company is for the 35% employee owned and boasts a turnover of around £2 billion. The group has entered in Italy with its own branch in 2021 and has quickly become one of the major operators on the national market with over 100 million euros in consolidated turnover and 800 employees.
The company's strategy is geared towardsacquisitions of independent brokersi of high reputation and with a recognized territorial presence, capable not only of distributing products, but above all of operating in terms of business risk consultancy.
The main data
Howden recorded, for the second consecutive year, a 19% organic growth (+19% compared to 2020). THE revenues they were 60% equal to 1.841 million pounds (in 2021 it had been 1.148 million). L'EBITDA was up 69% to £565m (FY2021: £335m).
Important to achieve these results was the completion of the operation TigerRisk and the signing of the acquisition of March RS. (both post-period close) which brought pro forma revenue to £2.036 million and EBITDA to £648 million.
I'm 1.000 i new employees taken on by the Group. Between mergers and acquisitions, the number of people who have joined the workforce rises to over 4.100, with the addition of 400 senior professionals in the last 24 months. An organic growth of the group of more than 20%.
Il raised capital during the year it was £2,9 billion.
They were completed during the 2022 financial year 31 acquisition operations which have changed the Group's position in key markets. In Italy the last operation took place in December 2022 with theacquisition of Assimovie, leading insurance broker in Italy in the television sectorfilm and advertising. For the London group it was the sixth operation closed in Italy in just under two years.
In Great Britain, Howden was ranked by theEmployee Ownership Association as the fifth largest employee-owned company in the UK. In the US, via Align and access to the market of MGA (Managing General Agent) activities, the Group has created a international MGA group with gross premiums of over £2,2 billion.
La Howden Group Foundation, an independent charity and shareholder of the Group, distributed over £1,2 million to its global charity partners during the year.
David Howden, CEO of the Howden Group, commented on the results for the year:
“Il Howden group he achieved in 2022 a outstanding financial performance, led by 19% organic growth, which is even more impressive when you consider that it follows stellar growth of 19% in 2021. We almost doubled our turnover in just 12 months. Howden's differentiated capital model, which combines employee ownership with long-term institutional shareholders, continues to provide the company with opportunity, strength and sustainability in the use of capital. Almost half of the 31 acquisitions in the last twelve months were carried out inContinental Europe, and very recently that of March RS. (after year end), reflecting our ambition to create a brokerage business of preeminent size in Europe, a region which has long been at the heart of our businesses. Our position is globally established as the only operator with the size, scale and experience to compete with the Big Three. Our focus on insurance as a force for good and innovation and our entrepreneurial mindset are among the main reasons why more and more customers are turning to Howden".
