Worldwide insurance coverage dealer Howden is bolstering its European operations with the acquisition of BWV Versicherungsbroker (BWV) in Liechtenstein.
The monetary phrases of the transaction weren’t disclosed.
BWV is an unbiased insurance coverage dealer engaged in catering to each company and personal clients.
The transaction kinds a part of Howden’s development technique and efforts to spend money on native specialist experience.
It acquired Swiss brokerages Born Consulting, Bachmann & Companions and Dealer Heart Zurichsee, in 2022 and 2021, respectively.
Below the phrases of the settlement, BWV will commerce as Howden Liechtenstein and function as a wholly-owned enterprise of Howden Switzerland.
Howden Switzerland, Austria and Liechtenstein CEO Felix Jenny will lead the brand new enterprise.
By means of the acquisition and formation of Howden Liechtenstein, Howden hopes to reinforce its presence and capabilities within the area.
Howden Europe CEO Luigi Sturani stated: “The partnership with BWV comes at an fascinating time as demand grows throughout Europe for more and more subtle insurance coverage services and products.
“Howden is due to this fact strengthening its place as one of many main brokers in Europe able to offering the dimensions, experience and a variety of bespoke options for which our shoppers are trying.”
BWV Versicherungsbroker co-founder Manfred Wanger stated: “During the last twenty years we’ve constructed a powerful enterprise and below our new Howden Liechtenstein model we hope to broaden our regional footprint in Switzerland and within the Principality of Liechtenstein, whereas additionally growing alternatives with Howden Austria.
“With this partnership, our shoppers will profit from a world broking group with distribution and experience in over 45 international locations.”
Earlier this month, Howden signed a double deal to broaden operations within the UK and Europe.