Global insurance group Howden, which recently appointed two divisional directors for the company’s London aviation team, has acquired Swiss aviation (re)insurance broker Hudson Sky International.
The acquisition, financial terms of which were not disclosed, is in line with the group’s wider strategy to become a leader in specialty markets like aviation. It also follows Howden Switzerland’s swoop for two brokerages in June.
“Hudson Sky will bring an additional strength to our operations in Switzerland,” Howden Switzerland chief executive Felix C. Jenny said in a release. “It reflects our commitment to providing our clients with best-in-class solutions, and the combination of Hudson Sky and our existing capabilities will enhance our aviation offering significantly.
“This acquisition is further evidence of our commitment to becoming the leader in our chosen markets throughout Europe, and I look forward to welcoming the whole team.”
According to Hans-Jörg Blumer, managing director for aviation at Howden Switzerland, there has been a considerable increase in demand for specialised advisory services in the aviation market.
“This acquisition is a vital step as we become market leaders in this space,” Blumer said. “Hudson Sky holds extensive sector experience, and this will be essential as we meet growing client demand in the region.”
For Hudson Sky managing director Martin Accola, the transaction was a strategic move.
“This acquisition was an important and strategic step for Hudson Sky as we assessed our long-term development plan in an increasingly complex global market,” he said.
“Our clients will benefit from Howden’s industry-wide expertise, placement and networking services, in addition to the usual personal service of our experienced team.”
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