Howden picks up Dutch brokerage to cement role in key European market

Global brokerage group Howden will buy Dutch insurance brokerage VLC & Partners from insurer De Goudse and managers, then hand leadership of its Dutch operations to VLC & Partners leaders.

Detailed terms of the deal were not named, but part of the transaction will include a move by VLC’s management team to roll part of their equity share into Howden.

VLC services mid-corporates, SMEs, and high net worth individuals, and brings 500 employees and seven branches to the Howden group. The acquisition follows Howden’s recent entry into the Danish market with the acquisition of NORTH Risk. Earlier in December Howden also announced the acquisition of Haakon AG, transforming its reinsurance offer in Switzerland.

Following the completion of the acquisition, Howden Netherlands will be led by VLC’s to-date CEO Lando te Molder. Branding will transition to Howden later.

David Howden, CEO, Howden, says: “This acquisition is amongst the most significant we have made in Continental Europe. VLC is an incredibly highly regarded business, known for the outstanding client service it provides. That they have chosen to join us is testament to our continued ability to attract leading talent in all our markets, our aligned cultures, client focus and the quality of our shared growth ambitions.

“Along with the newly announced acquisition of NORTH in Denmark, it clearly shows our patient, strategic commitment to the region; we are now a scale operator in every one of the major insurance markets in Europe, and we continue to deliver on our long stated ambition to build the pre-eminent European broker for clients and talent by joining with the very best businesses.”

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