Howden on major expansion spree; snaps up Swiss brokerage
Insurance broker Howden has taken a further step in the execution of its growth strategy in Europe and overseas with the launch of Howden Switzerland through the acquisition of BrokerCenterZürichsee AG (BCZ).
Howden took a similar approach in Italy earlier this year in a bid to build out its international platform through “strong organic growth, attracting talent and strategic partnerships”.
The latest deal marks Howden's first acquisition in the Swiss brokerage market, where it aims to take a leading market position by investing in local expertise and building out distribution for Swiss and multi-national clients.
BCZ is an independent insurance broker servicing Swiss SME clients across personal lines, property, and asset insurance, offering a full range of professional broking services and exceptional client service.
Following the deal, BCZ will operate under the new name Howden BCZ Versicherungsbroker AG. The BCZ’s leadership team consists of its two current owners, Teodoro Martino and Josef Eckl Zenger, who will continue to manage BCZ's existing operations and client relationships.
Felix Jenny, CEO of Howden Switzerland, said: “We see great potential for growth by being the natural home for independent brokers in Switzerland. In this way, clients can access the expertise and specialisms drawn from Howden’s international network in their local market.
“This acquisition also fits perfectly with our growth strategy, which will be achieved through strong organic growth, attracting talent and strategic partnerships with like-minded firms who share our culture of entrepreneurship and empowerment.”
Luigi Sturani (pictured), CEO of Howden Europe, commented: “ Howden Switzerland's acquisition of BCZ is the most recent example of us executing on our European strategy; to build businesses across the continent that offer both clients and talent something different and exciting. Our international scale, empowering culture, product expertise and data and analytics capability means we can provide real choice in the Swiss market and beyond.”
Eckl Zenger, managing director of Howden BCZ, said: “Our clients will now benefit from the advantages of an international broking group with distribution and expertise across 40 territories. Joining Howden means we can continue to grow our business and focus on delivering exceptional service to our clients as part of a company that values its independence and employee-owned culture.”
Martino, future chief development officer of Howden Switzerland, added: “The core of our corporate philosophy is to always put our clients at the centre of our thoughts and plans. We want to offer them even more expertise from a single source in Switzerland by expanding Howden’s geographical footprint.”
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