Howden continues M&A streak in entertainment lines with German deal
Global insurance broker Howden will purchase a leading entertainment sector insurance broker on the German market to consolidate its position for film and streaming and give the German target a boost onto the global playing field.
Howden struck terms to buy the second-generation family-owned Franz Gossler Insurance Group, which it hails as “one of the leading insurance brokers focusing on film and entertainment insurance in Germany and beyond.” Howden Germany’s specialty broker Howden Caninenberg spearheads the deal.
The acquisition of Franz Gossler follows a similar deal in Italy for Assimovie that made Howden what it believes is the largest TV and film production broking house in Italy.
Howden Caninenberg managing director for film Klaus Eisenberger said: “Franz Gossler and his team have enjoyed an excellent reputation as professionals in the field of film insurance for decades and are therefore the ideal partner for us. Our position as the leading broker for film, television and streaming services in the German-speaking region is thus consolidated. This transaction seamlessly fits into our growth strategy for the entire European market.”
Franz Gossler jr., owner of the target firm, added: “As an owner-managed company in its second generation, we have built a very successful business for clients in the film and entertainment industry in the DACH region. Now it is time to set the course for the future in order to better meet client’s global challenges. Howden, as an international company with specialist expertise in film and entertainment risks, is the best place for us to continue to grow and deliver for our clients as they face these increasingly global demands and to jointly expand the business from now on.”
Howden sport and entertainment global practice leader Duncan Fraser added: “Clients from the film and streaming sector have an increasing need for international solutions and a global network, which we offer through Howden Global Sport & Entertainment Practice. With Franz Gossler, we share an entrepreneurial spirit and client-focused approach.”
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