Global insurance group has announced the acquisition of the portfolio of Collegial Insurance Services, a Sydney-based general insurance broker. A news release highlighted that this move is set to strengthen Howden’s footprint in the Sydney insurance market.
Established in 2015 by Russell Farrington, Collegial has built a diverse client portfolio over the past nine years, ranging from listed corporations to small to medium enterprises (SMEs). This acquisition is seen as a strategic complement to Howden’s existing operations, providing enhanced service offerings to a broader range of clients.
“We are honoured that Russell has chosen to trust Howden with his clients’ needs,” said Matt Bacon, CEO of Howden Pacific. “We are very proud to be part of the next chapter in their journey. Russell has had a very successful history in the Sydney insurance market and has demonstrated an ongoing commitment to client service. We see many future opportunities for Collegial’s clients to access key broking talent and leading insurance solutions.”
Farrington said the decision to join Howden was made with the future of his clients in mind.
“After nine years of running Collegial, the decision to join Howden was a significant decision for me. In the end, I felt that Howden was culturally aligned with the high service standards and exceptional outcomes I have provided to my clients,” he said. Farrington said that the acquisition would provide Collegial’s clients with access to a global network of insurance solutions, ensuring long-term benefits and wider opportunities.
Howden, founded in 1994, is a globally recognized insurance group with a unique employee ownership model. The company offers a range of services, including insurance broking, reinsurance broking, and underwriting, serving clients from individuals to multinational corporations. Operating in 55 countries, including Australia, Howden handles over US$38 billion in premiums annually on behalf of its clients.
Any thoughts about the recent acquisition? Let us know in the comments below.
