Howden snaps up New Zealand broker for expansion in Pacific market
International insurance broker Howden has snapped up a New Zealand-based firm as part of its strategic growth plans in the Pacific region.
The acquisition of Wallace McLean, an advice-based insurance broking practice based in Auckland, aims to further strengthen its local expertise and expand its platform in New Zealand.
Wallace McLean was founded in 2001. It offers integrated, strategic insurance solutions in various specialisms including property, agriculture, shipping and freight operations, bodies corporate, self storage, film and entertainment, retail and distribution, and engineering and professional services.
Matt Bacon (pictured left), CEO Howden Pacific, said: "This is a very exciting time for Howden in the Pacific, and we are honoured that Wallace McLean has chosen Howden to partner with. Wallace McLean is a highly regarded broker, with a very talented and experienced team, and we are delighted to welcome them into the Howden fold. This acquisition is another great step forward in our strategy to expand our platform in New Zealand, and continue to offer a choice to clients and talent in this key Pacific market."
Nigel Wallace (pictured right), founder and Principal of Wallace McLean, commented: "We chose to join up with Howden because it offers us international depth and breadth, and allows access to global insurance markets to offset the current New Zealand insurance market conditions. We believe that this strategic partnership will enable us to continue and build on our growth strategies by future-proofing the insurance requirements of our clients.
"Myself, the management team, and all our staff are delighted to be joining Howden, and we are looking forward to accessing the additional expertise, resources, and technology that is now readily available to us. It is the perfect fit for our growing business. We are both clearly guided by common people first values, and an unwavering commitment to delivering absolute best-in-class solutions for our clients.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
