Howden acquires Norwegian insurance brokerage NIP in expansion move

Howden Broking Group has acquired a majority-share ownership in Norwegian Insurance Partner (NIP), an employee benefits broker, based in Bergen, Norway.

Through this acquisition, Howden Norway hopes to become a top-five broker in the country and a market leader in employee benefits.

Howden Norway was founded in August 2006 as NorthEdge Forsikringsmegling AS and was acquired by Howden in October 2013. The broker said Howden Norway has demonstrated one of the strongest organic growth track records within the group.

“After the acquisition of Punter Southall in the UK earlier in the year, our global Employee Benefits practice continues to go from strength to strength. Not only are we bolstering our capabilities for clients, but we prove ourselves once again to be the preferred home for independent, entrepreneurial talent,” said Howden CEO José Manuel González.

Anders Kvan, CEO of Howden Norway added: “NIP aligns perfectly with our ambitions in the market. This partnership strengthens our local business and positions us to provide existing and prospective clients with a complete offering in Norway across Affinity, Employee Benefits and all Property & Casualty classes better enabling us to serve our clients going forward.”

Geir Nygaard, founder and CEO of NIP, who will continue to lead operations in Bergen, said: “We look very much forward to working closely together with Howden and offering our clients a wider international network. Howden’s expertise in Norway, particularly within P&C and Affinity products, will complement NIP’s strengths in the areas of Employee Benefits and Professional Indemnity insurances, and joining forces will enable us to offer our clients and prospective clients a better overall product. Our two companies share a common approach to customer service and core values, which is fundamental to our future success.”