Howden has acquired VLC & Partners Holding B.V. (VLC), an independent insurance broker based in the Netherlands.
Under the ownership of Dutch insurer De Goudse NV and management, VLC is set to play a pivotal role in Howden’s growth plans.
In particular, a news release from Howden said the move boosts the group’s foothold in the Dutch market and marks a crucial milestone in its goal to become “the standout European insurance broker.”
VLC caters to mid-corporates, SMEs, and high net worth Individuals. It will integrate 500 employees and seven branches into Howden’s existing operations in the Netherlands.
As part of the acquisition, VLC’s management team will roll part of their equity share into Howden, aligning with the group’s capital model that places employee ownership at the centre of its culture.
CEO David Howden called the deal one of the “most significant we have made in Continental Europe.”
“VLC is an incredibly highly regarded business, known for the outstanding client service it provides,” he said. “That they have chosen to join us is testament to our continued ability to attract leading talent in all our markets, our aligned cultures, client focus and the quality of our shared growth ambitions.”
Howden further emphasized the group’s strategic commitment to the region, pointing out its recent acquisition of NORTH in Denmark.
“We are now a scale operator in every one of the major insurance markets in Europe, and we continue to deliver on our long-stated ambition to build the pre-eminent European broker for clients and talent by joining with the very best businesses,” he said.
Upon completion of the acquisition, Howden Netherlands will be led by VLC & Partners CEO Lando te Molder, with the VLC name transitioning to Howden in the foreseeable future.
“As part of our commitment to build on our top-tier position in the Dutch and international advisory market, selecting a strategic partner is of paramount importance,” said Lando te Molder. “We are delighted to have found a long-term partner that aligns seamlessly with our core values and ambitions.
“Howden’s commitment to prioritising its people and customers perfectly resonates with our principles. This partnership marks the beginning of a new chapter for us that will reinforce our international presence and create exceptional opportunities for further growth. It opens avenues for product and proposition development, digitalisation, and advancements in data and technology.”
Earlier in December, Howden also announced the acquisition of Haakon AG, transforming its reinsurance offering in Switzerland.
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