Howden enjoys 19% organic growth, solid revenue in ‘transformational year’

Earnings at international insurance group  Howden jumped by almost 50% in what its chief executive described as a “transformational year” of organic growth and strategic acquisitions.

The broker reported a solid organic growth of 19% for the financial year ended September 30, 2021, compared with the 6% organic growth seen in the same period of 2020.

Total revenues soared 48% to reach £1.15 billion, while the adjusted consolidated EBITDA increased by 50% to reach £335 million.

Howden Group invested heavily in attracting industry talent as well as in M&A in order to expand its presence  in new and existing markets, including Spain, Italy and Mexico and a start-up platform in Switzerland.

The integration of broker A-Plan and acquisition of Aston Lark and Align Financial Holdings (US) enabled Howden to significantly broaden its product offering in the UK, whilst cementing its position in the international market.

Other international activity included the launch of a retail broking operation in Australia, New Zealand, Italy and the opening of an office in Reykjavik, Iceland. Additionally, Howden announced the strategic expansion of its reinsurance business into treaty.

David Howden (pictured), chief executive officer, highlighted the company's “ability to attract, develop and empower talent” as the real driving force and the bedrock of its organic performance.

“This financial year has been characterised by signing some of the largest and most transformational acquisitions in our history: Align Financial Holdings in the US cemented DUAL’s position as the only MGA group operating across 19 countries with a diverse product spread and over $2bn GWP,” he added.

“This year we have deepened our foundations with start-up operations, strategic acquisitions and by attracting significant talent right across the region. We are well positioned to replicate our leading position in the UK across Continental Europe, making us the strongest European broker,” concluded Howden.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.