Howden closes in on acquisition of Spanish broker ARTAI
Howden is poised to acquire ARTAI, a Spanish independent corporate insurance broker.
The transaction, which is pending approval from the Directorate General of Insurance, will increase Howden’s presence in the region. On completion it will have more than €350 million in premiums under management and a workforce of 600 employees across 30 offices in Spain, Portugal and Morocco.
Howden Iberia, part of Howden Broking, acquired Compensa Capital Humano in July 2020, and in early 2021 launched a new specialist human capital team, led by Ana Matarranz.
ARTAI was founded 28 years ago in Galicia. It specialises in advising companies in the textile, marine, marine-fishing, logistics and fleet sectors, and provides risk management advice for large accounts.
Jaime Borrás, president of ARTAI, said being owned by a company of Howden's global scale “opens up an incredible range of possibilities and markets for both our employees and our customers."
Salvador Marín, chief executive officer (CEO) at Howden Iberia, said its acquisition of ARTAI reflects its commitment to specialist expertise, local delivery and people. “The purchase brings us a team with expertise and specialist knowledge that will complement our business, and also share our vision: to offer clients choice and a credible alternative in a consolidating market,” he explained.
José Manuel González, CEO of Howden Broking, added: "This transaction is strongly aligned with Howden Broking’s strategic plan for the next five years, of which one of the main aims is to support and drive forward Howden's growth in Europe.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
