Howden snaps up ‘major’ entertainment broker in UK and Ireland
Global re/insurance broker Howden has snapped up a “major” entertainment broker as part of its strategy to become a leading player in this market. The move follows similar acquisitions in Europe and the Pacific region.
Howden has acquired Media Insurance Brokers International (MIB), an independent UK and Irish film and television broker that offers specialist insurance products to the film, television, music and events sectors, and has strong relationships with broadcasters and media buying companies, as well as with independent production companies.
Howden claimed the acquisition “significantly enhances” its media and entertainment offering and expands the footprint for Howden’s Sport and Entertainment practice in Europe. It comes on the heels of recent acquisitions of Franz Gossler Insurance Group, a film and entertainment insurance broker in Germany, and Assimovie, Italy’s television and film broking house. The acquisition of Wallace McLean in July 2022, a broker with specialisms in film and television in New Zealand, further extends Howden’s expertise into the Pacific region.
Duncan Fraser, global practice leader, sport & entertainment, Howden, said: “We have known Richard and the team at MIB for many years and have long admired the business that they have built. MIB’s established relationships and deep industry knowledge, with many leading clients in the film, television, music and live events sectors, presents us with a significant opportunity to grow our business. Acquisitions like this will empower Howden to meet the growing demands of our entertainment and media sector clients as they continue to bounce back from the disruptions of Covid.”
Richard Moore, managing director, Media Insurance Brokers, added: “The team at MIB has worked hard for many years to establish a first-class brand within our sector which stands for excellent service and product knowledge for all our clients. This acquisition by Howden means we can continue on this path as part of a much larger group and with all the benefits that brings.”
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