Howden, the London-based insurance coverage group, revealed the acquisition of Arctic Insurance coverage AS, a fast-growing Norwegian insurance coverage broker.
Monetary information of the offer were not divulged.
This acquisition shows Howden’s aspiration to improve its existence in the Nordic area, by buying regional professional competence and bringing its international abilities to customers in regional markets.
Based in Oslo, Arctic Insurance coverage was developed in 2014 with the support of Arctic Group, a leading varied monetary services group. Arctic Insurance coverage concentrates on property/casualty, monetary lines & & specialized, staff member advantages and pensions. It serves a large range of customers with complex insurance coverage requires, such as food and drink, recycling and waste management, transportation, and financing organizations.
” The acquisition of Arctic Insurance coverage, and with it the addition of a strong group of similar, entrepreneurial people, is a considerable action in our enthusiastic development method for Norway,” commented Anders Kvan, CEO, Howden Norway.
” It brings us one action better to ending up being the leading independent broker in Norway– a market that is trying to find more option and a broking partner that can handle and position intricate danger,” Kvan included. “Integrating the professional competence of Arctic Insurance coverage with the scale of Howden’s global footprint reinforces our position as one of Norway’s leading brokers, efficient in offering the variety of bespoke options that our customers require in a significantly tough market environment.”
” Signing up with forces with Howden represents the next interesting action in our journey. In spite of significant interest from other brokers, we picked Howden due to the fact that of a shared vision and shared set of worths– consisting of putting our individuals initially and empowering the market’s best entrepreneurial skill to provide remarkable options for customers,” according to Alexander Ringvold, CEO, Arctic Insurance Coverage.
” We are now poised to continue our development trajectory as part of a bigger, vibrant international group, and I eagerly anticipate dealing with the group in this next stage,” Ringvold stated.
” From its modest starts in 2014, the business has actually ended up being extremely appealing within insurance coverage brokering, using its customers unequaled competence within a significantly intricate insurance coverage market,” stated Petter Bakken, chairman of the board, Arctic Insurance coverage and founding partner of Arctic Group.
” Our company believe Howden is the ideal home for Arctic Insurance coverage– a global gamer that will offer extra resources, include worth to our customers, and establish the business even further,” Bakken continued.
With the acquisition of Arctic Insurance coverage, Howden Norway now has 65 workers in 2 workplaces, reinforcing Howden’s existence in the Nordics. Howden opened a workplace in Finland over twenty years earlier, followed by workplaces in Sweden, Norway and Iceland, and uses a series of services to customers throughout all specialisms, from renewable resource, through to property and M&A.
This acquisition follows a series of current handle Europe. Howden just recently revealed its entry into the Danish market with the acquisition of NORTH Threat, the 4th biggest broker in the nation, and its purchase of VLC & & Partners Holding B.V., among the biggest independent insurance coverage brokers in the Netherlands.
Established in 1994, Howden runs in 50 nations throughout Europe, Africa, Asia, the Middle East, Latin America, the U.S.A., Australia and New Zealand, utilizing 15,000 individuals and managing $35bn of premium on behalf of customers.
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