UK-based insurance coverage dealer Howden is increasing its European operations with two acquisitions in Luxembourg and Belgium for an undisclosed sum.
The corporate has forayed into Luxembourg by buying the portfolio of United Brokers, a monetary traces specialist.
Howden mentioned it has established a department in Luxembourg Metropolis and goals to construct a retail insurance coverage enterprise within the nation.
In Belgium, the corporate acquired WDR Insurance coverage Group (WDR), which is concentrated on providing property and casualty (P&C), and worker advantages merchandise.
WDR caters to corporates, the general public sector, and small and medium-sized enterprise (SME) prospects.
Including to its current places in Zaventem and Uccle, the acquisition allows Howden to extend its presence within the wider Brussels area with places of work in Drogenbos, Aalst, and Antwerp, Howden mentioned.
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The corporate added that the offers kind a part of its technique to construct native experience and increase into new markets in Europe.
Howden Belgium CEO Herman Kerremans mentioned: “These two acquisitions reinforce our dedication to Belgium and the broader area, and replicate our technique to put money into expertise and to deepen our experience for the good thing about our shoppers.
“With sturdy strategic and cultural alignment, WDR and United [Brokers] are the best companions for Howden as we cement our place because the pure dwelling for unbiased insurance coverage brokers trying to give shoppers entry to the experience and specialisms of a global community inside their native market.”
WDR Insurance coverage Group managing administrators Marie-Anne Van Kerckhoven, Arnaut Ingels and Walter Huybrechts mentioned: “Although WDR is already a widely known dealer in our chosen markets, we’ve got been looking out for a accomplice with worldwide attain for years.
“Howden is the right match for our increasing enterprise – sufficiently giant to supply superior options in a posh world market but nonetheless wholly devoted to delivering the easiest service for our shoppers. “
Final week, Howden launched a parametric insurance coverage division to mitigate dangers rising from local weather change.