Howden acquires Colombian reinsurance broker

Howden Broking Group, part of Hyperion Insurance Group, will acquire NMB Colombia Corredores de Reaseguros SA, a reinsurance broker located in Bogota.

The addition of the broker further strengthens the Group’s Latin American operations, following the recent acquisitions of Colombian brokers Wacolda SA and Proseguros SA.

NMB Colombia has a strong focus on the Energy sector, including Oil and Gas, and also places business for clients in areas including Marine, Property, Casualty and Political Risks.

The company will operate as Howden RE Colombia, led by Ricardo Diaz, a reinsurance expert with over 30 years’ industry experience. Diaz joins Howden from Guy Carpenter, taking on the role of managing director, Reinsurance, Colombia.

Ian Webb, who led and developed the business as head of NMB Colombia, becomes head of Howden Energy Colombia, a division of Howden Re Colombia.

David Howden, CEO of Hyperion Insurance Group said: “The addition of a well-respected Colombian reinsurance broker, following the acquisitions of leading insurance brokers Walcolda and Proseguros in Colombia last month, is an important milestone in the development of our Iberoamerican platform. NMB Colombia has a long history of providing solutions to clients in the Colombian market, and its reinsurance expertise complements our existing Spanish and Latin American operations. Colombia remains a strategically important location for us, and enhancing our capabilities in the region is an important part of fulfilling our ambitions of developing a leading Iberoamerican broking operation.”