International insurance intermediary group Howden has announced the acquisition of Hamilton-based general insurance brokerage Bridges Insurance Services.
This move continues Howden’s strategy to grow its presence in the Pacific, following the recent acquisitions of Wallace McLean and Apex Group in New Zealand.
Founded in 1990 by Ron Bridges, Bridges Insurance Services is led by Bridges and director Chris Rolfe. The firm caters to mid-market and small-to-midsize enterprise (SME) clients, serving around 7,500 customers.
Matt Bacon, CEO of Howden Pacific, said the acquisition will broaden Howden’s service offerings for SME and corporate clients across New Zealand.
“We are honoured that Bridges have chosen to partner with Howden and are very proud to be part of the next chapter in their journey,” Bacon said. “Bridges have a strong track record in the NZ insurance market and have demonstrated an ongoing commitment to client service. Bridges will expand our presence into a new region in NZ and complements our existing business in the country, where we are strongly positioned to provide clients with access to industry leading insurance solutions and expertise.”
Ron Bridges, director of Bridges Insurance, outlined the benefits of joining Howden.
“After 34 years of independence, the decision to join Howden is one that we didn’t take lightly. In the end, we felt that culturally Howden was aligned with our existing values, focusing on our people and clients,” he said. “Becoming part of Howden creates a myriad of opportunities for the benefit of our clients, such as their international reach, expertise, and data and analytics capabilities. With Chris Rolfe becoming managing director and all the management team including myself staying actively involved, continuity and a level of comfort for our clients will be achieved. We are thoroughly excited about what the future holds.”
Howden, established in 1994, is an employee-owned global insurance intermediary group operating in 55 countries, including New Zealand. The company employs 17,000 people and manages US$38 billion in premiums. Last month, it launched a new cyber insurance platform for SMEs, aimed at simplifying the process of getting coverage.
