Howden adds to the European stable, picks up brokerage via Swiss unit
Global insurance broker Howden picked up another independent broker in its continuing M&A quest to build-out its presence on the European continent via its Swiss unit.
Howden signed for purchase of BWV Versicherungsbroker AG (BWV) in Liechtenstein, which Howden calls “a market-leading independent broker with a portfolio of corporate and private clients.”
The deal stacks on a string of purchases in the region, including Swiss brokerages Born Consulting, Bachmann & Partners and Broker Center Zurichsee, acquired in 2022 and 2021 respectively.
Trading as Howden Liechtenstein AG following the deal’s completion, the business will be led by Felix Jenny, CEO of Howden Switzerland, Austria and Liechtenstein and will operate as a wholly owned subsidiary of Howden Switzerland Ltd.
Howden set up its Swiss unit in 2021 and has grown it to include 75 employees across seven offices in Zurich, Bern and Zug.
The co-founder of BWV, Manfred Wanger, said: “Over the last twenty years we have built a strong business and under our new Howden brand we hope to expand our regional footprint in Switzerland and in the Principality of Liechtenstein, while also developing opportunities with Howden Austria. … With this partnership, our clients will benefit from an international broking group with distribution and expertise in over 45 countries. We will continue to grow as part of a business that values independence and our well-established, trusted team will still provide the professional service and support clients have come to expect."
The CEO of Howden Switzerland, Austria and Liechtenstein, Felix Jenny, said: "With strong strategic and cultural alignment, BWV is the ideal partner for Howden as we cement our position as the natural home for independent insurance brokers looking to give clients access to the expertise and specialisms of an international network within their local market.”
Luigi Sturani, CEO, Howden Europe, added: "The partnership with BWV comes at an interesting time as demand grows across Europe for increasingly sophisticated insurance products and services. Howden is therefore strengthening its position as one of the leading brokers in Europe capable of providing the scale, expertise and a range of bespoke solutions for which our clients are looking.”
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