Howden snaps up another European broker in quest to become ‘top player’
International broking group Howden has made another European acquisition, strengthening its presence in the Italian market, as part of its strategy to position itself among the top players.
Howden has moved to buy Vicenza-based specialist insurance broking and risk consulting firm Tower, following its entry into the Italian market last July with the acquisition of broker Andrea Scagliarini.
Tower has over three decades of experience in the jewellery sector, a typical activity of the Vicenza district in the North-eastern region of Italy, as well as in financial institutions.
“Tower is a company that I have long admired for its specialist expertise,” said Luigi Sturani (pictured), regional CEO of Howden Europe.
“This is another great step in our ambition to position ourselves among the top players in the Italian and European market, and Tower will be key in accomplishing our strategy of product specialty and territorial distribution.”
Guido Mocellin, founder and chairman of the board, Tower S.p.A, added: “Our clients will benefit from Howden’s expertise and product knowledge, and we will be empowered to represent them in all the countries in which they are present. Howden’s independent spirit will enable us to continue to focus on our clients, which is our strength.”
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