Howden, the London-based insurance broker, announced the acquisition of Tower SpA, a Vicenza, Italy-based specialist insurance broker and risk consulting company.
This follows the acquisition of the highly regarded Andrea Scagliarini SpA in July 2021, and reinforces Howden’s commitment to bring an alternative choice to clients.
Financial details of the transaction were not disclosed.
Established 34 years ago, Tower boasts unrivaled experience in the jewelery sector, a typical activity of the Vicenza district in the North-eastern region of Italy, as well as in financial institutions.
“We chose to join Howden because we share the same values: it is a People First, employee-owned business where colleagues are empowered to deliver exceptional service,” commented Guido Mocellin, founder and chairman of the board, Tower S.p.A. “Our clients will benefit from Howden’s expertise and product knowledge, and we will be empowered to represent them in all the countries in which they are present. Howden’s independent spirit will enable us to continue to focus on our clients, which is our strength.”
“Tower is a company that I have long admired for its specialist expertise. I am honored that Guido has chosen Howden amongst the many offers from other brokers,” said Luigi Sturani, regional CEO, Howden, Europe. “This is another great step in our ambition to position ourselves among the top players in the Italian and European market, and Tower will be key in accomplishing our strategy of product specialty and territorial distribution.”
Source: Howden
Topics Mergers & Acquisitions
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