Howden has announced significant strides in its European expansion strategy with two key acquisitions in the Low Countries.
In a news release, the company confirmed its establishment of a retail presence in the Grand Duchy of Luxembourg by acquiring the portfolio of United Brokers S.A., in addition to solidifying its position in Belgium through the acquisition of WDR Insurance Group BV.
The acquisition of Luxembourg-based financial lines specialist United’s portfolio marks Howden's entry into a new European market. As part of this growth journey, Howden is in the process of establishing a branch in Luxembourg City. Jacques Emsix, the branch representative and former owner of the portfolio, will partner with Howden to develop a retail business in the country.
WDR Insurance Group, on the other hand, specialises in property and casualty as well as employee benefits product lines, catering to corporate, public sector, and SME clients. With offices in Drogenbos, Aalst, and Antwerp, this acquisition is tapped to give Howden a boost in expanding its presence in the broader Brussels area, complementing its existing offices in Zaventem and Uccle. Furthermore, it is also forecasted to facilitate the growth of Howden's business in the Antwerp region, including the critical Port of Antwerp, where the company already serves several clients.
These acquisitions represent a significant milestone for Howden Belgium, which secured its broking license to operate in the country in June 2020. With a headcount now exceeding 60, revenues exceeding €10 million, and gross written premiums (GWP) exceeding €100 million, these acquisitions also underscore Howden's expansion and impact in the region.
“These two acquisitions reinforce our commitment to Belgium and the wider region and reflect our strategy to invest in talent and to deepen our expertise for the benefit of our clients. With strong strategic and cultural alignment, WDR and United are the ideal partners for Howden as we cement our position as the natural home for independent insurance brokers looking to give clients access to the expertise and specialisms of an international network within their local market,” Howden Belgium CEO Herman Kerremans said.
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