Howden, the London-based insurance broker, announced the acquisition of BWV Versicherungsbroker AG (BWV) in Liechtenstein.
BWV is a market-leading independent broker with a portfolio of corporate and private clients, and the transaction reflects Howden’s continued investment in local specialist expertise for the benefit of clients in the region.
Financial details of the deal were not disclosed.
The acquisition of BWV underscores Howden’s ambitious growth strategy, following the successful acquisitions of Swiss brokerages Born Consulting, Bachmann & Partners and Broker Center Zurichsee, acquired in 2022 and 2021, respectively, Howden said.
Trading as Howden Liechtenstein AG following the deal’s completion, the business will be led by Felix Jenny, CEO of Howden Switzerland, Austria and Liechtenstein, and will operate as a wholly owned subsidiary of Howden Switzerland Ltd.
Howden Switzerland established operations in 2021 and has grown to include 75 employees across seven offices in Zurich, Bern and Zug. The acquisition of BWV and subsequent formation of Howden Liechtenstein AG will boost Howden’s presence and capabilities across the region.
“Over the last 20 years we have built a strong business, and under our new Howden brand, we hope to expand our regional footprint in Switzerland and in the Principality of Liechtenstein, while also developing opportunities with Howden Austria,” commented Manfred Wanger, co-founder of BWV.
“With this partnership, our clients will benefit from an international broking group with distribution and expertise in over 45 countries. We will continue to grow as part of a business that values independence and our well-established, trusted team will still provide the professional service and support clients have come to expect,” Wanger added.
“With strong strategic and cultural alignment, BWV is the ideal partner for Howden as we cement our position as the natural home for independent insurance brokers looking to give clients access to the expertise and specialisms of an international network within their local market,” according to Felix Jenny, CEO, Howden Switzerland, Austria and Liechtenstein.
Luigi Sturani, CEO, Howden Europe, said: “The partnership with BWV comes at an interesting time as demand grows across Europe for increasingly sophisticated insurance products and services. Howden is therefore strengthening its position as one of the leading brokers in Europe capable of providing the scale, expertise and a range of bespoke solutions for which our clients are looking.”
About Howden Broking
Established in 1994, Howden Broking today employs more than 11,500 people worldwide. Together with network partners aligned to its specialty-led proposition, Howden operates in more than 100 territories.
Source: Howden Broking
Topics Mergers & Acquisitions Agencies
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