Howden snaps up German marine broker to fuel ambitious European strategy
Global re/insurance broker Howden has strengthened its offering in Europe with the acquisition of a marine broker in Northern Germany.
Howden has acquired Bremen-based Northern Lloyd as part of its strategy to become the market leader for marine business in Germany.
By constructing a team with local, specialist expertise, the company believes its Howden Deutschland unit is well-placed to capitalise on growth opportunities in the German marine market and will benefit from the collective power of Howden’s global footprint. Upon completion, Howden Deutschland will comprise 400+ employees in 10 locations.
Northern Lloyd is an independent marine insurance broker providing ship owners, ships and asset managers with consulting and risks analysis and placement and claims handling services. Northern Lloyd is a licensed Lloyd’s broker with operations in key territories including London, Athens, Limassol and Abu Dhabi.
The move follows the acquisition of German broker Franz Gossler Insurance Group in March 2023 to establish Howden Global Sport & Entertainment.
Stefan Gläbe, CEO, Northern LloydGroup, said: “As a large, independent broker with specialist expertise, Howden is the optimal home for Northern Lloyd as Jan Riedesel and the team continue to seek new ways to provide our clients with innovative solutions and global support. We share Howden’s entrepreneurial spirit and client-centric approach and look forward to leveraging the Group’s network to better meet our clients’ needs.”
Daniel Whiteside, managing director - global head of marine, Howden added: “We are delighted to welcome Stefan, Jan and the Northern Lloyd team to Howden as we pursue our ambitious growth strategy in Europe and strengthen Howden’s Global Marine capabilities. Since the first meeting with Stefan and Jan it was clear there was a strong cultural alignment, underpinned by our desire to attract and retain the best market talent, and this led to Howden being the obvious home for Northern Lloyd. We are excited for the business to be part of our Global Marine Practice.”
Luigi Sturani (pictured), CEO of Howden Europe, said: "Our rapidly expanding Marine & Energy offering in Europe highlights the need for an alternative choice in the market which can combine the strength of a global broker with the best, local talent to deliver bespoke solutions to clients.
“With the addition of Northern Lloyd, Howden Deutschland is well-positioned to become this broker of choice, delivering for clients with increasingly complex needs and the necessary requirement for both international and local expertise.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
