Independent insurance broker Howden has ramped up its focus on the professional indemnity space with a key acquisition.
The company has snapped up St Giles Legal & Professional Risks, a PI broker specialising in the UK solicitor sector.
The move, which now brings the number of UK law firms that Howden represents to more than 1,000, was welcomed by UK regions managing director Mark Westgarth who noted that St Giles is “highly regarded” in the space.
“We can offer greater scale and a depth of expertise that, combined with the experts at St Giles, will deliver better solutions for our mutual clients, in what are currently very challenging market conditions for them,” he said. “We always strive to be part of the solution to tough challenges and our investment in additional expertise again demonstrates our strong and long-term commitment to the UK legal sector.
“St Giles is a company that we at Howden have known for many years. As is so often the case with our acquisitions, we buy companies with whom we have a long history and have built up trust and respect.”
Now St Giles senior directors Simon Gale and Mark Thomsen will join the Howden line-up, while director Malcolm Gordon will provide consultancy support.
“Simon and I are delighted to be joining Howden, which is a well-respected leader in the professional indemnity market,” said Thomsen. “We know this is in the best interests of our clients and we are pleased to be joining such an experienced team.”
