Howden acquires German insurance company

Howden Broking Group, part of Hyperion Insurance Group, has acquired German insurance distribution group, Schouten Sicherheit International (SSI).

With five operating subsidiaries specialising in sports, contingency and real estate, the SSI group owns two broking operations, two MGAs and a marketing agency.

Established in 1990 by chief executive officer (CEO) Peter Caninenberg and headquartered in Cologne, the group employs 70 people across five offices in Germany.

This acquisition complements Hyperion’s existing German operations: Howden, DUAL Deutschland, and Hendricks GMBH and gives the group over 150 staff and revenues exceeding €40 million in the country.

David Howden, CEO of Hyperion Insurance Group, said: “In our digital age, the sports and entertainment market is booming, with projections showing revenues growing to more than $200 billion by next year. Sports and entertainment are now vast corporate businesses facing increasing risks such as terrorism, communicable diseases, political instability, combined with the escalating values of celebrities and sports professionals.

“This acquisition will broaden the range of insurance products available to our clients and customers and bring new clients to the group. We will leverage our global network to extend the reach of our new colleagues and their expert service. The SSI team has the foremost specialists in this arena, and we are delighted that they have joined the Howden team.”

Peter Caninenberg, CEO of SSI, said: “Joining Howden, with its London base and its international reach, means we can strengthen our global presence and services for the benefit of our clients. When deciding on a partner to support our strategy to attract the best talent in our niche, and continuing our client focused business approach, Howden with its employee-owned model was the perfect fit.”