What’s happening?
Insurance broker Howden has bought Spanish firm March Risk Solutions outright from investment bank Banca March – the fee has not been disclosed. This acquisition follows their movements in other parts of Europe such as Italy and France recently.
What the key players said
“Since I started Howden Iberia over 16 years ago, it has grown from strength to strength, and with the addition of March R.S. we continue to leverage top talent and build on our European ambitions,” said Howden Broking chief executive José Manuel González.
“I am especially excited about this acquisition, as it unites Howden with one of the most prestigious financial institutions in Spain, and is a key step in our strategy to become the leading insurance broker in the Spanish market. This is the 12th acquisition for Howden Broking in Europe [in 2022], which in addition to organic growth, has allowed us to triple our turnover in the last three years.”
Howden Iberia CEO Salvador Martin commented, “Howden Iberia will be a leader in maritime, fleet, and employee benefits, as well as in the food & beverage and logistics & distribution sectors.”
“March Risk Solutions and Howden will combine best-in-class expertise and knowledge of the Iberian market and with the addition of Howden’s global network we will be able to boost the growth of our brokerage business, providing both a local and international offering to clients which is truly market-leading,” added Banca March chief executive José Luis Acea.
Source: https://www.insurancebusinessmag.com/uk/news/ma/howden-continues-manda-spree-431609.aspx