Tysers sells ‘exceptional’ bloodstock business to rival Howden
Tysers, which is now part of the AUB Group, is no longer keen on growing its bloodstock business as it shifts focus on core areas. The Lloyd’s broker has decided to sell its blookstock units to rival Howden, who has a “real passion” for it.
Tysers has offloaded its bloodstock broking team and the bloodstock managing agent Galileo to Howden. The transaction was completed on February 1, 2023.
Clive Buesnel (pictured), CEO of Tysers, explained: “We had built an exceptional bloodstock business but, as our focus is no longer in this area, we entered a commitment to sell the business including our bloodstock underwriting unit, Galileo, to Howden, with the sale of the broking business completing on 1 February 2023.
“We are focusing our efforts on building our core business areas to deliver strategic growth, capitalise on new opportunities and ensure that our client-first approach is at the heart of everything we do. We are delighted to have agreed the deal with Howden as we believe it is the perfect new home for the teams as Howden have extensive existing capability, an outstanding culture and a real passion for Bloodstock.
“Becoming part of the AUB Group marked the start of an exciting future for Tysers. We have joined a company that shares Tysers’ vision of investing in our talented teams and empowering broking operations.”
Howden is an official partner of Ascot racecourse, and David Howden, its CEO, is also the president and founder of the Cornbury House Horse Trials. He has also invested in British Eventing through the Howden Way, a training programme for young riders of all levels along with a young horse talent pathway programme. Howden has also recently scaled up its equestrian offering with a host of senior appointments.
David Howden, CEO, Howden, commented: “The acquisition of Tysers’ bloodstock team and the Galileo underwriting team will be a significant step in our strategy to enhance the scale, depth and expertise of our sport and entertainment specialty practice, of which Equine and Bloodstock are leading components. We will continue to develop our offering by attracting talented individuals to the team, who share in Howden’s commitment to Equine and Bloodstock clients and our passion for the equine world.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
