Worldwide insurance coverage dealer Howden is bolstering its European operations with the acquisition of BWV Versicherungsbroker (BWV) in Liechtenstein.
The monetary phrases of the transaction weren’t disclosed.
BWV is an impartial insurance coverage dealer engaged in catering to each company and personal prospects.
The transaction varieties a part of Howden’s development technique and efforts to spend money on native specialist experience.
It acquired Swiss brokerages Born Consulting, Bachmann & Companions and Dealer Middle Zurichsee, in 2022 and 2021, respectively.
Beneath the phrases of the settlement, BWV will commerce as Howden Liechtenstein and function as a wholly-owned enterprise of Howden Switzerland.
Howden Switzerland, Austria and Liechtenstein CEO Felix Jenny will lead the brand new enterprise.
By the acquisition and formation of Howden Liechtenstein, Howden hopes to reinforce its presence and capabilities within the area.
Howden Europe CEO Luigi Sturani stated: “The partnership with BWV comes at an fascinating time as demand grows throughout Europe for more and more refined insurance coverage services.
“Howden is subsequently strengthening its place as one of many main brokers in Europe able to offering the size, experience and a spread of bespoke options for which our shoppers are wanting.”
BWV Versicherungsbroker co-founder Manfred Wanger stated: “Over the past twenty years we now have constructed a robust enterprise and underneath our new Howden Liechtenstein model we hope to increase our regional footprint in Switzerland and within the Principality of Liechtenstein, whereas additionally creating alternatives with Howden Austria.
“With this partnership, our shoppers will profit from a world broking group with distribution and experience in over 45 nations.”
Earlier this month, Howden signed a double deal to increase operations within the UK and Europe.