UK-based insurance coverage firm Howden has introduced the acquisition of Silks Insurance coverage, an Australian dealer specialising within the bloodstock market.
Howden expects the transfer to bolster its sport and leisure specialty capabilities within the Pacific area.
Silks Insurance coverage, established in 2020, provides a variety of equine business options together with insurance coverage for foals, yearlings, weanlings, broodmares, racehorses and stallions.
This transaction follows a sequence of strategic acquisitions by Howden, together with HQ Insurance coverage in Australia and the UK bloodstock broking enterprise of Tysers.
Moreover, Howden’s underwriting arm, DUAL, has just lately acquired bloodstock managing basic businesses Galileo and David Ashby Underwriting.
Howden mentioned these acquisitions symbolize a major enlargement of its capabilities and market attain throughout the specialised equestrian insurance coverage sector.
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Howden world follow chief of sport and leisure Duncan Fraser mentioned: “We’re constructing the potential and experience to answer our shoppers’ wants by means of business, product and geographical specialists linked collectively in a world follow.
“The addition of the Silks workforce considerably enhances our presence in Australia and is a serious step in our technique to be recognised by shoppers because the main sport, media, leisure and equine dealer out there.”
Silks Insurance coverage director Stuart Doughty mentioned: “Silks’ shoppers will reap the advantages of Howden’s worldwide platform and knowledge and analytics capabilities as we proceed our progress journey with them.
“Finally, Silks has been constructed on a loyal shopper base and the exhausting work of its skilled workers. Now it has the backing of Howden and its vital bloodstock insurance coverage relationships within the UK, I can solely see this as a optimistic for our shoppers sooner or later.”
Final week, Howden acquired Norwegian middleman Arctic Insurance coverage to spice up its presence within the Nordic area.
