Howden, the London-based international insurance broker, further strengthens its presence in Italy with two new acquisitions: Nord Est Insurance Broker and ASI Insurance Brokers.
Financial details of the acquisitions were not disclosed.
Since establishing its operations in Italy a year ago, to further its expansion in this key market, Howden has already made five acquisitions, including the largest independent insurance broker in Italy, Assiteca, and the specialist brokers Andrea Scagliarini S.p.A. and Tower S.p.A.
Nord Est was founded in 1989 and is a well-established independent insurance broker with long-standing relationships among local mid-upper market clients.
“We are excited to become part of a Group that shares the same entrepreneurial mind-set which has allowed us to establish strong and lasting market relationships over the years, where our people are truly valued and will continue to have the freedom to deliver what is best for our clients,” Ugo Furlan and Mario Gava, co-founders of Nord Est, said.
ASI was established in 2008 and is a specialized broker for sureties and freelance professionals.
“I have been looking for a partner who could give us international breadth for years and Howden is the perfect fit for our growing business. It is our forever home that will support our continued growth, guided by common principles including People First and the unwavering commitment to really deliver the best solutions for our clients, all of whom we know personally,” according to Roberto Brunetta, founder of ASI Insurance Brokers.
Luigi Sturani, regional CEO, Howden, Europe, commented: “Nord Est and ASI are two highly regarded brokers, with very talented teams, and we are excited to welcome them to Howden. Both of these acquisitions are essential to expand our product specialty portfolio in Italy and to establish a local territorial distribution. Our long-term strategy is to position ourselves among the top players in Italy and bring choice to clients and talent in this key European market.”
About Howden Broking
Established in 1994, Howden today comprises owned businesses across Europe, Asia, Africa, Latin America, the Pacific and the Middle East, employing more than 9,000 people worldwide. Together with network partners aligned to its specialty-led proposition, Howden operates in more than 90 territories.
Source: Howden Broking
Topics Mergers & Acquisitions Agencies
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