Howden, the independent employee-owned insurance broker, announced it has reached an agreement to acquire St Giles Legal & Professional Risks, a London-based professional indemnity insurance broker specializing in the UK solicitor sector, a market in which Howden is already a leading provider.
The acquisition will bring the number of UK law firms Howden represents to more than 1,000. Financial detail of the transaction were not released.
“St Giles is a highly regarded and specialist broker of professional indemnity insurance. We are delighted to be bringing our talents together for the long-term benefit of our collective client base,” commented Mark Westgarth, managing director, UK Regions, Howden Broking.
“We can offer greater scale and a depth of expertise that, combined with the experts at St Giles, will deliver better solutions for our mutual clients, in what are currently very challenging market conditions for them. We always strive to be part of the solution to tough challenges and our investment in additional expertise again demonstrates our strong and long term commitment to the UK legal sector,” added Westgarth.
“St Giles is a company that we at Howden have known for many years. As is so often the case with our acquisitions, we buy companies with whom we have a long history and have built up trust and respect.”
Senior Directors Mark Thomsen and Simon Gale will take up positions in Howden’s Financial Lines Group, with fellow Director Malcolm Gordon, providing consultancy support.
About Howden Broking Group
Howden, the London-headquartered re/insurance broker, risk consultant and employee benefits adviser, comprises owned businesses across Europe, Asia, Africa, Latin America and the Middle East.
Established in 1994, Howden employs more than 4,500 people worldwide and controls over £6 billion of premium. Together with network partners aligned to its specialty-led proposition, Howden operates in more than 90 territories.
Source: Howden Broking Group
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