Swiss insurer Baloise has bought its majority stake in Swiss specialist reinsurance dealer Haakon to Howden’s subsidiary Howden Schweiz.
The businesses haven’t disclosed monetary particulars and different phrases of the transaction.
The acquisition of a majority stake in Haakon is predicted to additional strengthen Howden’s reinsurance platform and shopper choices throughout the European area.
The newest deal marks Howden’s ninth acquisition in Switzerland prior to now two years.
Haakon, beforehand part of the Baloise Group, offers a variety of treaty, facultative and sophisticated reinsurance options to its prospects throughout Europe, Asia and the Center East.
Aside from its headquarters in Basel, Switzerland, Haakon additionally has an workplace in Kuala Lumpur, Malaysia.
Entry probably the most complete Firm Profiles
in the marketplace, powered by GlobalData. Save hours of analysis. Achieve aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain e-mail will arrive shortly
We’re assured in regards to the
distinctive
high quality of our Firm Profiles. Nevertheless, we would like you to take advantage of
helpful
determination for your enterprise, so we provide a free pattern which you can obtain by
submitting the beneath type
By GlobalData
The transaction will allow Haakon to leverage the Howden Tiger reinsurance platform for addressing the rising calls for of its shoppers, home and regional insurers, managing common brokers and reinsurers throughout the globe.
Howden Tiger Worldwide CEO Massimo Reina stated: “The success of Howden Tiger’s European progress has been predicated on attracting extremely proficient native, like-minded, unbiased broking specialists with main reputations for delivering the perfect shopper options.
“We now have discovered the perfect companion in Haakon, to realize our reinsurance ambitions in Switzerland in addition to strengthening our place as one of many main reinsurance brokers in Europe.”
Haakon CEO Thomas Meier added: “In Howden we now have discovered an unbiased, long-term companion with a shared imaginative and prescient and tradition which places shoppers at its coronary heart and empowers the trade’s perfect entrepreneurial expertise.
“Combining with the world’s fastest-growing reinsurance brokers provides us the dimensions, depth of expertise and distribution capabilities to proceed to place our enterprise for long-term success.”
The newest announcement comes per week after Baloise was reportedly contemplating the sale of almost $1.1bn (SFr962.58m) value of life insurance coverage insurance policies in Belgium.
