US specialty insurance coverage brokerage and threat supervisor Danger Methods has introduced the acquisition of the US and Canadian working entities of insurance coverage holding firm HWI BV.
The deal, the worth of which was not divulged, contains Hugh Wooden (US) and Hugh Wooden Canada.
Hugh Wooden (US), headquartered in New York Metropolis, affords a spread of insurance coverage options with a give attention to sectors equivalent to actual property, marine, metals and high quality artwork.
The corporate serves a global clientele, together with Japanese shoppers.
Hugh Wooden Canada, positioned in Toronto, specialises in advanced business strains placements and private asset safety.
Danger Methods mentioned the acquisition enhances its marine apply, significantly in business marine insurance coverage, offering superior options for world cargo transit and stock dangers.
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It additionally strengthens the corporate’s high quality artwork apply with specialty experience in insuring collectibles such cash and stamps for numerous shoppers, from business sellers to non-public collectors.
Moreover, Danger Methods’ Canadian operation is anticipated to learn from added specialty experience in a number of trade sectors, in addition to business and personal strains coverages.
This transfer follows a strategic evaluate by HWI BV of its North American operations, which started in 2021.
HW Worldwide BV chairman David Nelson mentioned: “This is a wonderful alternative for the HWI BV Group and the North American groups, and we see Danger Methods as an excellent accomplice. The deal will allow the HWI BV Group to proceed to prosper and work along with a implausible accomplice in North America, in addition to making a relationship that’s really additive to all events.”
Accession Danger Administration Group world CEO John Mina mentioned: “We’re excited to welcome these Hugh Wooden firms into the Danger Methods household and increase our operations to serve the danger administration and insurance coverage wants of shoppers in Canada.
“Our objective in buying corporations is to convey on specialists with a client-first, collaborative strategy and the potential to each strengthen and increase our attain and capabilities.”
Accession Danger Administration is the guardian model of Danger Methods and One80 Intermediaries.
Earlier this 12 months, Danger Methods acquired Stone Insurance coverage Company, an organization based in 1859 that serves business and private strains shoppers.
